Liquid Air Energy Storage (LAES) offers a distinct profile in cost, efficiency, and environmental impact compared to other prominent grid-scale energy storage technologies like lithium-ion batteries, pumped hydro, and compressed air energy storage (CAES).
Cost Comparison
- Lower Levelized Cost of Storage (LCOS): According to recent MIT research, LAES has an estimated LCOS of about $60 per megawatt-hour, which is roughly one-third the cost of lithium-ion battery storage and about half the cost of pumped hydro storage. This positions LAES as a potentially more cost-effective solution for large-scale and long-duration energy storage.
- Location Flexibility Reduces Infrastructure Costs: Unlike pumped hydro that requires specific geographic features (like mountains and water reservoirs), LAES can be sited virtually anywhere, eliminating site-related cost constraints. This geographical flexibility can lower capital and permitting costs compared to pumped hydro.
- Resource Availability: LAES relies on ambient air and electricity, avoiding the need for expensive and environmentally impactful raw materials such as lithium, cobalt, and nickel required by lithium-ion batteries. This reduces supply chain costs and risks related to material scarcity and environmental regulations.
Efficiency Comparison
- Round-Trip Efficiency: LAES typically has a lower round-trip efficiency compared to lithium-ion batteries and pumped hydro. Research from Dongguk University highlights that conventional LAES systems face challenges reaching efficiencies comparable to pumped hydropower and CAES. Although integrating waste heat or external thermal systems can improve efficiency, these approaches may limit the system’s independent siting or produce CO2 emissions, undermining sustainability goals.
- Waste Heat Utilization: A key advantage for boosting LAES efficiency is its ability to use waste heat from industrial processes during the re-gasification phase, which can significantly increase overall energy recovery. This feature is unique among storage technologies and can partially offset the efficiency disadvantage.
Environmental and Operational Aspects
- Clean Operation: LAES uses only air and electricity with no harmful chemicals or pollutants involved, making it a very clean technology with minimal environmental footprint during operation.
- Energy Density and Duration: LAES offers high energy density and is well-suited for long-duration storage (days or longer), unlike lithium-ion batteries which become less cost-effective for extended storage durations.
- Geographical Independence: Unlike pumped hydro and CAES that rely on specific geological formations, LAES can be deployed flexibly, expanding the potential for grid-scale storage deployment in diverse locations.
Summary Table
| Aspect | LAES | Lithium-ion Batteries | Pumped Hydro | CAES |
|---|---|---|---|---|
| LCOS | ~$60/MWh (lowest among these) | ~3x LAES cost | ~2x LAES cost | Comparable to pumped hydro |
| Round-trip Efficiency | Lower (improving with waste heat) | High (~85-95%) | Moderate to high (~70-85%) | Moderate (~50-70%) |
| Location Flexibility | Very high | High | Low (requires geography) | Low to moderate (requires geology) |
| Environmental Impact | Very low (air and electricity only) | Moderate (mining, recycling issues) | Low | Low, but may involve fuel use |
| Suitable Duration | Long-duration (days+) | Short to medium (hours) | Long-duration (hours to days) | Long-duration |
In conclusion, LAES stands out for its competitive storage cost, environmental cleanliness, and siting flexibility, especially for long-duration storage applications. However, it currently faces challenges in round-trip efficiency compared with lithium-ion batteries and pumped hydro. Continuous improvements in system design, especially in thermal integration and waste heat utilization, are expected to enhance its efficiency and economic viability, making LAES a promising future contender for grid-scale energy storage.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-laes-compare-to-other-energy-storage-technologies-in-terms-of-cost-and-efficiency/
