Abstract
Sources such as solar and wind energy are intermittent, and this is seen as a barrier to their wide utilization. The increasing grid integration of intermittent renewable energy sources generation significantly changes the scenario of distribution grid operations. Such operational challenges are minimized by the incorporation of the energy storage system, which plays an important role in improving the stability and the reliability of the grid. This study provides the review of the state-of-the-art in the literature on the economic analysis of battery energy storage systems. The paper makes evident the growing interest of batteries as energy storage systems to improve techno-economic viability of renewable energy systems; provides a comprehensive overview of key methodological possibilities for researchers interested in economic analysis of battery energy storage systems; indicates the need to use adequate economic indicators for investment decisions; and identifies key research topics of the analyzed literature: (i) photovoltaic systems with battery energy storage systems for residential areas, (ii) comparison between energy storage technologies, (iii) power quality improvement. The last key contribution is the proposed research agenda.
Highlights
There is an increase in demands for changes in the patterns of energy generation and consumption associated with a search for more sustainable development [1]
To address RQ1, an electronic spreadsheet organized specific data for each paper
Data analysis started answering RQ1 to provide an initial and general understanding of this literature
Summary
There is an increase in demands for changes in the patterns of energy generation and consumption associated with a search for more sustainable development [1]. RES can provide energy independence for countries by reducing exposure to the risks associated with high volatility in fossil fuel prices, geopolitical uncertainties, and dependence on these resources [2]. The sun is our main source of energy, but only a small portion of that energy is used, and there is potential for new developments. Sources such as solar and wind energy are said to be intermittent, as they are available or strong only at certain hours of the day, and this is seen as a barrier to their wide and full utilization [3]
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