Performance Analysis of Cogeneration System Based on Advanced Adiabatic Compressed Air Energy Storage

ABSTRACT To mitigate the volatility associated with renewable energy generation, energy storage technologies are essential for shifting energy across time and space by capturing surplus electricity and discharging it during deficits. This capability is vital for enhancing energy efficiency and facilitating the extensive integration of renewables. This study develops and evaluates two Advanced Adiabatic Compressed Air Energy Storage (AA‐CAES) configurations: a three‐stage compression/expansion system and a four‐stage counterpart, both designed for an 8‐h charge and 4‐h discharge cycle. Thermodynamic and economic models were constructed to assess their performance. The simulation indicates that the three‐stage system achieves a round‐trip efficiency (RTE) of 76.20% and an energy generation per unit volume (EGV) of 6.67 kWh/m 3 , leaving 207.88 tons of residual hot water. In comparison, the four‐stage system shows a slight decline in RTE by 1.23% and EGV by 0.41 kWh/m 3 , but generates a significantly higher surplus of hot water (increased by 171.82 tons). Economically, the levelized cost of energy (LCOE) is 0.1067 $/kWh for the three‐stage system and 0.1104 $/kWh for the four‐stage system, with dynamic payback periods (DPT) of 1.6 and 1.7 years, respectively. To address the substantial hot water surplus in the four‐stage design, an Organic Rankine Cycle (ORC) was integrated for waste heat recovery. This integration improved the system's work capacity, RTE, and EGV. Although the initial capital expenditure rose due to additional equipment, the slight dip in economic metrics is negligible compared to the thermodynamic gains.