Techno-economic analysis of lithium-ion and lead-acid batteries in stationary energy storage application

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Abstract

Grid-connected renewable energy systems are considered a viable solution for satisfying the swiftly growing
demand. Nevertheless, the intermittent nature of renewable energy sources (RESs) hinders their performance and
can not be efficiently utilized, rather imposes power quality and instability problem on the grid system. To
alleviate this challenge, it is common practice to integrate RESs with efficient battery energy storage technologies.
Lead-acid batteries were playing the leading role utilized as stationary energy storage systems. However,
currently, there are other battery technologies like lithium-ion (Li-ion), which are used in stationary storage
applications though there is uncertainty in its cost-effectiveness. In this paper, a state-of-the-art simulation model
and techno-economic analysis of Li-ion and lead-acid batteries integrated with Photovoltaic Grid-Connected
System (PVGCS) were performed with consideration of real commercial load profiles and resource data. The
Hybrid Optimization Model for Electric Renewables (HOMER) was used for the study of the techno-economic
analysis. Besides, the performance of these batteries is greatly affected by the rate of charge and discharge
cycling effects which gradually degrades the capacity of the battery. This effect was also investigated with Matlab
using a simplified equivalent circuit model by considering a typical stationary application datasheet. The technoeconomic
simulation output provided that the system with Li-ion battery resulted in a Levelized Cost of Energy
(LCOE) of 0.32 €/kWh compared to the system with lead-acid battery with LCOE of 0.34 €/kWh. Besides, the Net
Present Cost (NPC) of the system with Li-ion batteries is found to be €14399 compared to the system with the
lead-acid battery resulted in an NPC of €15106. According to the result found, Li-ion batteries are techno-economically
more viable than lead-acid batteries under the considered specifications and application profile.
Original languageEnglish
Article number102748
Pages (from-to)1-19
Number of pages19
JournalJournal of Energy Storage
Volume40
DOIs
Publication statusPublished - 7 Jun 2021

Keywords

  • Lithium-ion batteries
  • Lead-acid batteries
  • Techno-economic
  • HOMER
  • Renewable energy
  • Matlab

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