Techno-economic Comparison of Long Duration Energy Storage

Ever-increasing penetration of intermittent solar PV and wind power in power system requires more flexibility to address volatility. Long duration energy storage(LDES) plays an important role in this aspect. This paper surveys and summarizes the state-of-art and on-going development for main LDES technologies, including pumped hydro storage(PHS), compressed air energy storage (CAES), redox flow battery (RFB), hydrogen storage and so on. By collecting investment data of dozens of real-world storage projects in China and relevant documents, this paper investigates the levelized cost of storage (LCOS) for 4 hours, 6 hours, 8 hours 12 hours duration LDES solutions in 2024, 2030, 2045 and 2060. Techno-economic comparison is thus provided. The results show that LCOS ranking varies in different scenarios and LDES should be chosen accordingly.