An Update on the Cost Comparison of Chemical and Thermal Storage for Power Generation in Namibia

Based on a previous study, this paper presents a new cost comparison between chemical and thermal energy storage application in power generation [1]. Despite the methodology of the analysis remaining the same as the previous study, the existing cost input data used in the previous study is updated with new cost input data derived from the latest bids received in the Battery Energy Storage System Project procured by Namibia Power Corporation in 2023. The study was derived from an electricity supply challenge within the Southern African Power Pool (SAPP). The unique mismatch between the supply and demand of electricity has caused extreme price variations during peak and off-peak periods. The objective of the study was to determine a suitable economical solution to counterbalance the effect of the extreme price variations. Following this cost comparison analysis, it can be inferred that thermal energy storage has become increasingly financially viable compared to chemical storage for power generation.