Abstract: This paper presents the updated status of energy storage (ES) technologies, and their technical and economical characteristics, so that, the best technology can be selected either for grid-connected or off-grid power system applications.
Grid energy storage, also known as large-scale energy storage, are technologies connected to the electrical power grid that store energy for later use. These systems help balance supply and demand by storing excess electricity from variable renewables such as solar and inflexible sources like nuclear power, releasing it when needed.
Energy storage is one option to making grids more flexible. An other solution is the use of more dispatchable power plants that can change their output rapidly, for instance peaking power plants to fill in supply gaps.
Therefore, LIB is expected to remain the most popular grid-scale stationary energy storage technology because of its various benefits over other storage systems. Moreover, LIB can have the possibility to become a great alternative to the existing fossil fuel-based energy production system which will lead to a cleaner environment.
Battery energy storage systems provide multifarious applications in the power grid. BESS synergizes widely with energy production, consumption & storage components. An up-to-date overview of BESS grid services is provided for the last 10 years. Indicators are proposed to describe long-term battery grid service usage patterns.
In off-grid applications, ES can be used to balance the generation and consumption, to prevent frequency and voltage deviations. Due to the widespread use of battery energy storage (BES), the paper further presents various battery models, for power system economic analysis, reliability evaluation, and dynamic studies.