Journal: Journal of Energy Storage
Year: 2023
Citations: 273
DOI: 10.1016/j.est.2023.108694

Abstract

Energy storage technologies play a crucial role in the transition toward sustainable energy systems, enabling the integration of renewable energy sources and improving grid stability. This comprehensive survey examines the current state and future prospects of various energy storage technologies, including mechanical, electrochemical, thermal, and chemical storage systems. The paper analyzes the global economic and environmental impacts of energy storage deployment, examining cost trends, market dynamics, and environmental benefits. We present optimal scheduling models for energy storage systems and discuss sustainable adaptation policies that can accelerate the adoption of energy storage technologies. The review also addresses technical challenges, performance metrics, and emerging innovations that are shaping the future of energy storage.

Summary

This comprehensive survey provides an integrated analysis of energy storage technologies and their critical role in enabling the global transition toward sustainable energy systems. The research examines various energy storage approaches including mechanical systems like pumped hydro and compressed air, electrochemical systems such as batteries and supercapacitors, thermal storage solutions, and emerging chemical storage technologies. The study demonstrates how these diverse storage technologies are essential for integrating renewable energy sources into power grids and maintaining system stability as the world moves away from fossil fuel dependence.

The paper provides detailed analysis of the global economic and environmental impacts of energy storage deployment, examining cost trends that show rapidly declining prices for key technologies like lithium-ion batteries, market dynamics driving adoption across different sectors, and quantifiable environmental benefits including reduced greenhouse gas emissions and improved air quality. The research presents sophisticated optimal scheduling models that help maximize the efficiency and economic value of energy storage systems by coordinating charging and discharging cycles with electricity demand patterns and renewable energy generation profiles.

The study addresses critical technical challenges facing energy storage deployment including performance degradation over time, safety considerations, and the need for improved energy density and cycle life. The research also examines sustainable adaptation policies that governments and organizations can implement to accelerate energy storage adoption, including financial incentives, regulatory frameworks, and research and development support. The comprehensive analysis provides valuable insights for policymakers, energy planners, and technology developers working to advance sustainable energy storage solutions.

Main Takeaways

• Critical Role in Energy Transition: Energy storage technologies are essential for integrating renewable energy sources and maintaining grid stability as the world transitions away from fossil fuel dependence.

• Diverse Technology Portfolio: The field encompasses mechanical, electrochemical, thermal, and chemical storage systems, each offering different advantages for specific applications and use cases.

• Rapidly Improving Economics: Cost trends show significant price declines, particularly for lithium-ion batteries, making energy storage increasingly economically viable across various sectors and applications.

• Quantifiable Environmental Benefits: Energy storage deployment enables higher renewable energy penetration, directly reducing greenhouse gas emissions, improving air quality, and enhancing overall grid efficiency.

• Advanced Optimization Capabilities: Sophisticated scheduling models maximize storage system efficiency and economic value by coordinating operations with electricity demand patterns and renewable generation profiles.

• Policy-Driven Acceleration: Sustainable adaptation policies including financial incentives, regulatory frameworks, and research support are crucial for accelerating energy storage adoption and driving continued innovation.