Asymptotic Cost Analysis of Intercalation Lithium Ion Systems for Multi-Hour Duration Energy Storage
40 Pages Posted: 6 Aug 2019 Sneak Peek Status: Review CompleteMore...
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
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