Although energy storage has become increasingly common in markets and projections, there is scant literature on best practices for including energy storage in long-term models.
Given the temporal and spatial detail necessary to model energy storage, long-run planning models should reflect short-run operational details of power systems and energy storage devices (Argonne National Lab ). These advances should, in turn, be extended to broader energy-economic and IAMs that draw upon power-sector-specific modeling results.
Although energy storage modeling is still an emerging field, the published literature to date offers directional insights about the potential role of energy storage in future power systems.
Energy storage represents an entirely different application from conventional generators, as it provides both an energy source and sink and can have value associated with both that is relevant to the capacity expansion decision. As with other technologies, careful consideration must be given to applying levelized-cost metrics to energy storage.
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