Research on Life Cycle Cost and Investment Return Mechanisms of Novel Energy Storage Systems

Team Leader, Completed and was responsible for all aspects of the project

Keywords: Novel Energy Storage System, Lithium Iron Phosphate Battery, Levelized Generation Cost, Full Life Cycle, Electricity Market.

Research Description

1. Compiled a comprehensive research report by analyzing and summarizing policies and current status of novel energy storage in various countries and regions, including the US, Australia, China, the UK, Japan, etc.
2. Based on lifecycle theory, developed the Levelized Cost of Electricity (LCOE) model for lithium iron phosphate batteries and performed sensitivity analysis to the trends of LCOE in relation to the annual operating frequency, charging/discharging efficiency, average off-peak electricity price, and charging/discharging depth of energy storage systems.
3. From diverse perspectives (grid side, supply side, demand side, etc), conducted an investigation and analysis of revenue mechanisms including capacity compensation and capacity leasing, electric energy market, and ancillary service market.

Publication

Conference Paper (Online | EI Compendex and SCOPUS)

[1] Investigation on Policies and Projects Related to the Development of Novel Energy Storage

[2] Investigation on Levelized Cost of Electricity for Lithium Iron Phosphate Batteries