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Asymptotic Cost Analysis of Intercalation Lithium Ion Systems for Multi-Hour Duration Energy Storage

40 Pages Posted: 6 Aug 2019 Sneak Peek Status: Review Complete

See all articles by Rebecca E. Ciez

Rebecca E. Ciez

Andlinger Center for Energy and the Environment, Princeton University

Daniel Steingart

Department of Earth and Environmental Engineering, Columbia University

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Abstract

Lithium-ion battery costs have fallen rapidly enabling their adaptation for electric vehicle and electricity grid storage applications largely thought impractical a decade ago. Current costs are still too high to enable low-cost, geographically unrestricted energy storage technologies required for load-shifting storage. Existing industry experience with grid lithium-ion systems gives these batteries an incumbency advantage over other storage technologies. Here, we examine both the performance and manufacturing costs of lithium-ion cells specifically designed for long-duration grid storage applications. We find that minimizing the balance of cell hardware and using existing, low cost electrode materials, cells can be manufactured for less than $100/kWh. While the levelized cost of storage is highly dependent on the use case, an 8-hour system cycled almost daily can provide stored electricity at a cost of < $0.10/kWh.

Keywords: Electrical energy storage, levelized cost of storage, lithium-ion battery

Suggested Citation

Ciez, Rebecca E. and Steingart, Daniel, Asymptotic Cost Analysis of Intercalation Lithium Ion Systems for Multi-Hour Duration Energy Storage (August 3, 2019). JOULE-D-19-00625. Available at SSRN: https://ssrn.com/abstract=3431415 or http://dx.doi.org/10.2139/ssrn.3431415
This is a paper under consideration at Cell Press and has not been peer-reviewed.

Rebecca E. Ciez

Andlinger Center for Energy and the Environment, Princeton University

86 Olden Street
Princeton, NJ 08544
United States

Daniel Steingart (Contact Author)

Department of Earth and Environmental Engineering, Columbia University ( email )

3022 Broadway
New York, NY 10027
United States

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