Liquid Air Energy Storage (LAES) technology generally achieves round-trip efficiencies around 57%, though newer system designs can significantly improve performance. For example, a recent LAES system incorporating oxy-fuel combustion and thermal energy recovery reported a 56.7% higher round-trip efficiency than conventional LAES systems, with an exergy efficiency slightly lower by about 1.3% but overall much better energy output and thermal integration capabilities.
When compared to other energy storage technologies, LAES is competitive, especially on a cost basis for grid-scale applications. The levelized cost of storage (LCOS) for LAES is estimated around $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 makes LAES potentially the lowest-cost large-scale storage option under certain scenarios, particularly where long-duration storage and integration with waste heat or low-grade heat sources is possible.
To summarize the efficiency and cost comparison:
| Storage Technology | Round-Trip Efficiency (%) | Levelized Cost of Storage (LCOS) | Comments |
|---|---|---|---|
| Liquid Air Energy Storage | ~57% (up to ~90% with new designs) | ~$60/MWh | Lower cost than batteries and pumped hydro; potential for efficiency improvements with thermal integration |
| Lithium-ion Batteries | ~85-95% | ~3x LCOS of LAES | High efficiency but higher cost; suitable for short duration storage |
| Pumped Hydro Storage | ~70-85% | ~2x LCOS of LAES | Mature technology; geographically limited |
LAES currently lags behind lithium-ion batteries and pumped hydro in raw round-trip efficiency but offers substantial economic benefits and better scaling potential for long-duration and grid-scale storage. Its ability to use waste heat and supply heating/cooling as co-products further enhances its overall system efficiency and economic attractiveness.
In conclusion, while LAES is less efficient in pure round-trip energy terms compared to lithium-ion and pumped hydro, its lower cost, scalability, and ability to integrate thermal energy recovery position it as a promising technology for large-scale, long-duration energy storage applications.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-the-efficiency-of-liquid-air-energy-storage-compare-to-other-energy-storage-technologies/
