Conclusions This article studies the allocation of energy storage capacity considering electricity prices and on-site consumption of new energy in wind and solar energy storage systems. A nested two-layer optimization model is constructed, and the following conclusions are drawn:
Today, an estimated 4.67 TWh of electricity storage exists. This number remains highly uncertain, however, given the lack of comprehensive statistics for renewable energy storage capacity in energy rather than power terms.
If is within the power supply capacity of the interconnection line, the external power grid should consider charging the energy storage system while supplying electricity; When is less than zero or greater than zero and less than , this situation mainly relies on the energy storage system to maintain the balance of .
Here, we construct experience curves to project future prices for 11 electrical energy storage technologies. We find that, regardless of technology, capital costs are on a trajectory towards US$340 ± 60 kWh −1 for installed stationary systems and US$175 ± 25 kWh −1 for battery packs once 1 TWh of capacity is installed for each technology.
Energy storage has the potential to play a crucial role in the future of the power sector. However, significant research and development efforts are needed to improve storage technologies, reduce costs, and increase efficiency.
With growing demand for electricity storage from stationary and mobile applications, the total stock of electricity storage capacity in energy terms will need to grow from an estimated 4.67 terawatt-hours (TWh) in 2017 to 11.89-15.72 TWh (155-227% higher than in 2017) if the share of renewable energy in the energy system is to be doubled by 2030.