A comprehensive review on techno-economic assessment of hybrid energy storage systems integrated with renewable energy

Abstract

Integrating renewable energy systems into the grid has various difficulties, especially in terms of reliability, stability, and adequate operation. To control unpredictable loads, one potential approach is to incorporate energy storage systems (ESSs) into the power network. The implementation of an ESS is dependent on its technical properties, the implementation site, the electrical energy source (conventional or renewable energy types), and its related costs. Therefore, an up-to-date database with technical and economic properties, cost data, and applications is necessary for decision-making purposes. Moreover, the integration of ESSs with renewables should be based on an optimal sizing analysis that incorporates system modeling and proper formulations of technical and financial design criteria. This paper provides an overview of recent developments in the field of energy storage; combining a comprehensive assessment of the technical and economic characteristics of the various types of energy storage systems, and creating a pertinent database with the technical specifications and cost figures of both established and newly developed energy storage systems. The reviewed research works present all metrics that affect the performance of each type of storage and discuss their future directives and innovations. Moreover, recent analyses of integrating energy storage systems with hybrid photovoltaic/wind power systems are also discussed in terms of system modeling, performance analysis indicators, and optimization methods. By combining all these aspects, our research significantly contributes to the existing literature and offers a holistic understanding of energy storage systems and their role in hybrid power plant applications.