Cryogenic energy storage cost

How much does a cryogenic energy storage system cost?

This technology reaches a new benchmark for a levelized cost of storage (LCOS) of $140/MWh for a 10-hour, 200 MW/2 GWh system. Highview Power’s cryogenic energy storage system is equivalent in performance to, and could potentially replace, a fossil fuel power station.

Is cryogenic energy storage a viable alternative?

Energy storage allows flexible use and management of excess electricity and intermittently available renewable energy. Cryogenic energy storage (CES) is a promising storage alternative with a high technology readiness level and maturity, but the round-trip efficiency is often moderate and the Levelized Cost of Storage (LCOS) remains high.

What is cryogenic energy storage?

Cryogenic Energy Storage (CES) is another name for liquid air energy storage (LAES). The term “cryogenic” refers to the process of creating extremely low temperatures. How Does Liquid Energy Storage Work? A typical LAES system follows a three-step process.

How long does an energy storage system last?

The 2020 Cost and Performance Assessment analyzed energy storage systems from 2 to 10 hours. The 2022 Cost and Performance Assessment analyzes storage system at additional 24- and 100-hour durations.

How much does energy storage cost?

Pumped hydro storage, flow batteries, and compressed air energy storage, and LAES all have around the same power capital costs (between $400 and 2000 kW-1). Because of the effect of discharge durations, capital costs per unit of energy cannot be utilized to accurately measure the economic performance of energy storage devices.

How can Highview Power Scale up its cryogenic energy storage system?

Highview Power has partnered with Finland-based Citec to modularize its gigawatt-scale cryogenic energy storage system. With a simplified design and streamlined engineering from Citec, a standard CRYOBattery configuration of 50 MW/500 MWh can be easily, and cost-effectively, scaled up to multiple gigawatt hours.