Which is more worth investing in industrial machine tools or energy storage

Should a machine tool be energy efficient?

Naturally, the decision for or against the procurement of energy efficiency features when purchasing or upgrading a machine tool depends on an economic evaluation, which is typically based on the return on investment, the payback period, or the net present value [86, 87].

Why do machine tools remain in different energy states?

Based on shift models, runtimes and load factors, the machine tool remains in specific energetic states for different periods of time. Depending on whether small or large series production is considered, there is also a different distribution of the machine states and consequently times in different energy states.

How does price affect energy storage technology investment income?

The price has considerable uncertainty, which directly affects the energy storage technology investment income. Investment in energy storage technology is characterized by high uncertainty . Therefore, it is necessary to effectively and rationally analyze energy storage technology investments and prudently choose investment strategies.

How can industrial facilities reduce energy and demand costs?

Industrial facilities have tremendous potential to decrease their energy and demand costs through means of ES to shave the peak load off the power grid, bringing greater balance between production and demand, while simultaneously improving the reliability and financial performance of the power grid ( Tronchin et al., 2018 ).

Why should es technologies be matched to industrial facilities?

Industrial facilities are considered to be the leading users of energy at 54% of the world's total delivered energy ( Haiwei and Wang, 2009 ). Therefore, ES technologies should be matched to a facility to reduce or shift maximum power demands away from the power plant, a process known as demand-side management (DSM).

Are machine tools based on electrical energy?

Since it has been emphasised in the literature that the environmental impact of machine tools results mainly from their demand for electrical energy, most models are based on this energy form . Generally, a distinction can be made between physical and empirical models.