Economic Analysis of Grid level Battery Energy Storage System using Repurposed EV batteries

Abstract

India has an agenda to achieve net zero carbon emissions by 2070 as committed in COP-26. The major contributor to carbon emission is Power Sector and Transport sector. Indian government is promoting EMobility to reduce the carbon footprint in Transport sector by reduction of Oil Consumption. The batteries used in Electric Vehicles have a high energy density and after completing their guaranteed life in the vehicle, they are still left with a very high potential to serve as Energy Storage Equipment for improving Grid Stability. Investment in Renewable Energy is also increasing exponentially to reduce the carbon foot print and to transit towards a Carbon Neutral state. However, the major problem of Renewable energy is its poor reliability and limited availability. To increase the reliability of Renewable Energy, many methods have been suggested and implemented in the sector. In this paper, we have suggested the use of repurposed EV batteries as Grid Level Energy Storage System to increase the reliability of Renewable Energy plant. Financial analysis of using the repurposed EV Batteries has been done and a Comparative study was done amongst Renewable Energy Plant using new batteries for Energy Storage System, Renewable Energy Plant using repurposed EV Batteries for Energy Storage and a Conventional Coal-fired Thermal power plant. It is observed that used battery storage system is not only economical of the three but also offers many other benefits like lower payback period, avenues for re-using the EV Batteries, etc. With the Government Target of 30 % penetration of EV in the Transport Sector by 2030, market will be abundant with used EV batteries. It is also important for the Indian Grid to take adequate measures promptly to overcome the reliability and availability of Renewable Energy Plants by deploying large scale Grid Level Storage Systems in a phased manner.