Contents of cost accounting for energy storage industry

What is energy cost accounting?

Energy cost accounting can be taken as such a partial cost accounting concept. Its objectives result from the management’s need for information about and controlling of the company’s energy consumption, losses, efficiency, and cost.

What do you need to know about energy storage?

Energy demand and generation profiles, including peak and off-peak periods. Technical specifications and costs for storage technologies (e.g., lithium-ion batteries, pumped hydro, thermal storage). Current and projected costs for installation, operation, maintenance, and replacement of storage systems.

What is cost-type accounting?

Cost-type accounting provides a cost structure for energy cost accounting and MEFCA. Direct MEFCA costs are the direct and indirect material cost and the energy cost. The first category is represented by the cost-types of raw and auxiliary materials, operating supplies and pur-chase parts.

What is energy storage analysis?

This analysis identifies optimal storage technologies, quantifies costs, and develops strategies to maximize value from energy storage investments. Energy demand and generation profiles, including peak and off-peak periods.

Why do we need a cost accounting system?

From this and the in-creasing importance of energy use and conservation it accrues the need for more transparency of energy consumption, losses and the resulting cost: The cost of energy use and loss should be systematically accumulated, assigned and analyzed in cost accounting.

What are energy-related system costs?

energy-related system costs as all expenses incurred by in-house generation, trans-formation, and transmission of energy, but do not comprise the delivery cost of purchased energies. While, in the MEFCA, the material and energy costs are direct flow costs, the system cost and the waste management cost are indirect costs.