Handbook of Energy Storage for Transmission or ... - W2agz.com
Handbook of Energy Storage for Transmission or ... - W2agz.com Handbook of Energy Storage for Transmission or ... - W2agz.com
EPRI Proprietary Licensed Material Table 5 VRB Capital and O&M Costs Application Size Plant Capacity Capital Cost – Power Related ($/kW) Capital Cost – Energy Related ($/kWh) Total Capital Cost ($) O&M Cost – Fixed ($/kW-yr) O&M Cost – Variable ($/kWh) DR/Peak Shaving Prototype 2260 550 4.5M 12.0 0.029 FOAK 1 MW 4 MWh 700 230 1.6M 4.0 0.029 NOAK 500 150 1.1M 2.0 0.029 Spinning Reserve Prototype 2150 1050 42.5M 1.2 0.029 FOAK 10 MW 20 MWh 608 410 14.3M 0.4 0.029 NOAK 426 250 9.3M 0.2 0.029 Windfarm Stabilization & Dispatch Prototype 2150 300 45.5M 1.2 0.029 FOAK 10 MW 80 MWh 608 140 17.3M 0.4 0.029 NOAK 426 100 12.3M 0.2 0.029 Vanadium Redox Battery 30
EPRI Proprietary Licensed Material 4.3. Benefits All benefits calculations were performed by a spreadsheet using discounted cash flows to determine the NPV. The analysis used EPRI-provided economics assumptions, including a real discount rate of 5% and annual inflation of 2%. In addition, all escalation is assumed to be 2%. DR/Peak Shaving Benefits include capital investment deferral and substation O&M deferral. The analysis assumes that each year, one substation capital project is deferred. During peak generation days, the system is used to provide peak generation support as well (charging with off-peak energy, accounting for system losses, and discharging during the on-peak period). The assumptions are given in Table 6. Table 6 DR/Peak Shaving Assumptions Utility Avg Substation Capital Cost 2,000,000 $ Substation O&M cost 25,000 $/sub/yr Power - Peak 80 $/MWh Power - Off Peak 20 $/MWh Peak days 60 days/yr Discount rate (real) 5 % VRB System Size 1 MW Energy Storage 4 h Efficiency 0.70 Cycle life 1500 cycles Max life 20 years Total NPV of the benefits over the 20-year study period is calculated as $1.5M. Spinning Reserve Spinning reserve benefits include (1) contract revenues from the open ancillary services market and (2) the generation benefits from discharging energy during the spinning reserve events. Table 7 shows the input assumptions. Vanadium Redox Battery 31
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EPRI Proprietary Licensed Material<br />
4.3. Benefits<br />
All benefits calculations were per<strong>f<strong>or</strong></strong>med by a spreadsheet using discounted cash flows to<br />
determine the NPV. The analysis used EPRI-provided economics assumptions, including<br />
a real discount rate <strong>of</strong> 5% and annual inflation <strong>of</strong> 2%. In addition, all escalation is<br />
assumed to be 2%.<br />
DR/Peak Shaving<br />
Benefits include capital investment deferral and substation O&M deferral. The analysis<br />
assumes that each year, one substation capital project is deferred. During peak<br />
generation days, the system is used to provide peak generation supp<strong>or</strong>t as well (charging<br />
with <strong>of</strong>f-peak energy, accounting <strong>f<strong>or</strong></strong> system losses, and discharging during the on-peak<br />
period). The assumptions are given in Table 6.<br />
Table 6<br />
DR/Peak Shaving Assumptions<br />
Utility<br />
Avg Substation Capital Cost 2,000,000 $<br />
Substation O&M cost 25,000 $/sub/yr<br />
Power - Peak 80 $/MWh<br />
Power - Off Peak 20 $/MWh<br />
Peak days 60 days/yr<br />
Discount rate (real) 5 %<br />
VRB<br />
System Size 1 MW<br />
<strong>Energy</strong> <strong>St<strong>or</strong>age</strong> 4 h<br />
Efficiency 0.70<br />
Cycle life 1500 cycles<br />
Max life 20 years<br />
Total NPV <strong>of</strong> the benefits over the 20-year study period is calculated as $1.5M.<br />
Spinning Reserve<br />
Spinning reserve benefits include (1) contract revenues from the open ancillary services<br />
market and (2) the generation benefits from discharging energy during the spinning<br />
reserve events. Table 7 shows the input assumptions.<br />
Vanadium Redox Battery 31
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