Investment decisions Energy storage can affect investment in power generation by reducing the need for peaker plants and transmission and distribution upgrades, thereby lowering the overall cost of electricity generation and delivery.
Therefore, in order to provide a more realistic investment decisions framework for energy storage technology, this study develops a sequential investment decision model based on real options theory, which can consider policy, technological innovation, and market uncertainties.
Although electricity storage technologies could provide useful flexibility to modern power systems with substantial shares of power generation from intermittent renewables, investment opportunities and their profitability have remained ambiguous.
By solving for the investment threshold and investment opportunity value under various uncertainties and different strategies, the optimal investment scheme can be obtained. Finally, to verify the validity of the model, it is applied to investment decisions for energy storage participation in China's peaking auxiliary service market.
The parameters used in the comparison of energy storage technologies are energy density, power density, power rating, discharge time, suitable storage duration, lifetime, cycle life, capital cost, round trip efficiency, and technological maturity.
Therefore, increasing the technology innovation level, as indicated by unit benefit coefficient, can promote energy storage technology investment. On the other hand, reducing the unit investment cost can mainly increase the investment opportunity value.
An estimated 387 gigawatts (GW) (or 1,143 gigawatt hours (GWh)) of new energy storage capacity is expected to be added globally from 2022 to 2030, which would result in the size of global energy storage capacity …
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An estimated 387 gigawatts (GW) (or 1,143 gigawatt hours (GWh)) of new energy storage capacity is expected to be added globally from 2022 to 2030, which would result in the …
Based on the characteristics of China''s energy storage technology development and considering the uncertainties in policy, technological innovation, and market, this study …
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Energy storage can affect investment in power generation by reducing the need for peaker plants and transmission and distribution upgrades, thereby lowering the overall cost …
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Second, it is the Company''s intention that from the end of the Initial Investment Period, when any new investment is made, no single project (or interest in any project) will …
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