Abstract
Transitioning to a renewable energy economy requires the widespread integration of solar and wind power, which are intermittent, into the electricity grid. To this goal, it is paramount to develop cost-competitive, reliable, location-independence, and large-scale energy storage technologies. The hydrogen bromine flow battery (HBFB) is a promising technology given the abundant material availability and its high power density. Here, the aim is to perform a comprehensive techno-economic analysis of a 500 kW nominal power/5 MWh HBFB storage system, based on the levelized cost of storage approach. Then, we systematically analyze stack and system components costs for both the current base and a future scenario (2030). We find that, for the base case, HBFB capital investments are competitive to Li-ion battery technology, highlighting the potential of large-scale HBFB market introduction. Improving the stack performance and reducing the stack and system costs are expected to result in ~62% reduction potential in capital investments. The base-case levelized cost of storage, $0.074/kWh, is sufficiently low for a wind-solar storage system to compete with a fossil-based power plant, with potential for reduction to $0.034/kWh in the future scenario. Sensitivity analysis indicates that the levelized cost of storage is most sensitive towards the stack lifetime, which motivates research efforts into advanced electrocatalysts with higher durability and ion-exchange membranes with improved selectivity.
Highlights
The European Union (EU) should set targets and implement policies and measures to limit the global average temperature increase to 1.5 ◦ C in line with the Paris Agreement [1]
Techno-economic analysis of a 500 kW/5 MWh hydrogen bromine flow battery (HBFB) storage system has been performed with the levelized cost of storage approach
The financial viability and bankability of megawatt-scale HBFB are assessed for the introduction of large-scale HBFB systems in the market in both the current case and in the 2030 future scenario
Summary
The European Union (EU) should set targets and implement policies and measures to limit the global average temperature increase to 1.5 ◦ C in line with the Paris Agreement [1]. An agreement was made in 2019 in the European Council on net-zero greenhouse gas (GHG) emissions by 2050 as the target for the EU long-term climate strategy [2]. A Commission proposal, based on the agreed target for 2050 defined a cost-effective intermediate target for 2030 (currently set as at least 40%). The Netherlands proposes the 2030 target to be increased to 55%, to be agreed in 2020 [3]. The Dutch government encourages that both the 2030 and 2050 targets become part of the European. A major aspect of the Dutch reflection on the European Green Deal is the strong focus
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