Abstract
In this investigation, we explored the cost-effectiveness and operational efficiency of grid-connected Energy Storage System (ESS) technologies—specifically, Proton Exchange Membrane-Reversible Fuel Cell (PEM-RFC) and Li-ion Battery (LIB)—with the goal of meeting load demand. Our conclusion reveals that integrating ESS isn't the optimal solution due to impractical implementation costs, making reliance solely on grid electricity a more pragmatic choice. Despite this, a secondary optimum value emerged, suggesting economic viability for ESS integration and introducing a dynamic trade-off between cost considerations and energy storage utilization. Furthermore, our study conducted a sensitivity analysis, anchored in the target costs set by the US Department of Energy, to identify conditions under which ESS systems could transition from impractical to feasible. The results outlined the potential to reduce the levelized cost of energy (LCOE) but also emphasized the prospect of increasing the storage factor by optimizing various system characteristics. Crucial factors like capital cost, efficiency, and lifetime were identified as pivotal in shaping the economic landscape of ESS integration. The study showcased tangible outcomes upon sensitivity analysis, including a 12% reduction in PEM-RFC LCOE and 58.5% reduction in LCOE for LIB, indicating improved cost efficiency and feasibility of ESS integration to the grid. To address a critical research gap, this study provides a novel comparison between PEM-RFC and LIB technologies as ESS, considering dynamic grid electricity prices. It sheds light on intricate dynamics that must be considered in ESS deployment decisions, emphasizing the delicate balance between cost-effectiveness and operational efficiency. Focused on the electricity load demand of commercial buildings in the Santa Barbara district, our techno-economic assessment contributes valuable insights for informed decision-making in ESS integration.
Published Version
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