The cost-effectiveness of thermal energy storage (TES) systems is influenced by several key factors:
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Container and Insulation Design:
TES performance and cost significantly depend on the design of the container and the insulation used. A well-insulated system helps reduce thermal losses, which affects overall efficiency and cost. -
Efficiency of Thermal-Electric Conversion:
The efficiency of converting thermal energy back into electricity is capped by the Carnot cycle efficiency. Improvements in thermal cycle efficiency, such as using advanced systems like the high-efficiency advanced binary combined cycle (ABCC), can enhance cost-effectiveness. -
Cost of Storage per kWh:
TES systems are often less expensive than other forms of energy storage, such as lithium-ion batteries. For example, particle thermal energy storage costs between $2 and $4 per kWh of thermal energy at high temperatures. -
Configuration and Scale:
Novel configurations like thermocline systems can reduce containment costs by allowing one vessel to store both hot and cold materials, effectively halving costs compared to traditional two-tank systems. -
Technical Barriers and Holistic Cost Analysis:
A comprehensive approach to calculating the levelized cost of storage (LCOS) helps compare TES systems to other energy storage technologies on a level playing field. Factors such as technical barriers and performance metrics need to be integrated into cost analyses. -
Integration with Renewable Energy Systems:
TES can enhance the performance of heat pumps powered by renewable energy, potentially accelerating their adoption and improving overall energy system efficiency.
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