Paul Gardner of DNV GL will summarize recent work by the World Energy Council on the costs and value of grid-connected energy storage, with particular reference to use with solar and wind. His presentation will discuss metrics commonly used for assessing the costs of energy storage, their advantages and disadvantages. The importance of the ‘use case’ or ‘application case’ will be explained.
One measure (Levelized Cost of Storage) will then be used to compare alternative storage technologies in three application cases:
- ‘Ideal’ (i.e. full use can be made of the storage device’s characteristics)
- PV: one full charge/discharge cycle per day
- Wind: one full charge/discharge cycle every two days
The sources of ‘value’ for an energy storage project will be discussed, to illustrate important differences from assessment of generation projects.
Mike Hopkins, CEO of Ice Energy, will then share one current market solution to energy storage deployment. Ice Energy has been in the business of thermal energy storage since 2003, with its product, the Ice Bear, creating and storing cooling for commercial, industrial, and residential applications. Each Ice Bear is networked and fully dispatchable, and designed to be aggregated at MW scale for utilities, transforming the AC load from an uncontrolled problem into a clean, reliable, and flexible asset for the grid.
Mike will share Ice Energy's advantages over chemical batteries like lithium ion, including lower cost, higher reliability, longer life, no degradation, and no environmental issues, as well as challenges to growth in the current energy market.