Simulation of Thermodynamic Efficiency and Plant Equipment Finance for Cryogenic Energy Storage Systems as Applied to Medium to Large Scale Liquid-Air Electricity-Storage

Abstract

Cryogenic energy storage systems have a significant potential to add intermittent renewable-energy sources in power grid. Storage economy lies on the differences in cost and demand of peak load and off-peak load for electricity supply. Selection of energy storage technique is dependent upon the roundtrip efficiency, power capacity, and capital and other recurring costs. In this paper, thermo-economic models of medium-to-large-scale Liquid-Air Energy Storage is explained, focusing on efficiencies and costs. The model is validated against data taken from an operational pilot plant. This system is technically good due to use of waste heat and waste cold. Economy of the system is good due to low capital investment and lower leveled cost of storage.