Abstract
Compressed air energy storage is one of the most promising large scale electrical energy storage technologies. A techno-economic model of compressed air energy storage system is constructed. The techno-economic analysis is carried out under the conditions with and without the subsidy policy of a compressed air energy storage system with thermal energy storage for the scenario of being applied to an industrial plant. The results without subsidy policy indicate that the internal rate of return of this system is 16.3%, and the dynamic investment pay-back period is 9.2 years, and the results with subsidy policy indicate the above evaluation index is 23.8% and 6.2 years. Furthermore, the economical sensitivity factors are illustrated through the uncertainty analysis including the break-even analysis and the sensitivity analysis. In addition, the policy support plays an important role for the lower risk and improve return of the compressed air energy storage power plant. The study of this paper can provide theoretical reference and engineering instruction for the research and engineering application of compressed air energy storage system.
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