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Title: Optimizing Energy Storage Economics


This poster details how REopt - NREL's software modeling platform for energy systems integration and optimization - can help to optimize energy storage economics.

Publication Date:
Research Org.:
National Renewable Energy Lab. (NREL), Golden, CO (United States)
Sponsoring Org.:
USDOE Office of Energy Efficiency and Renewable Energy (EERE), Federal Energy Management Program Office (EE-5F)
OSTI Identifier:
Report Number(s):
DOE Contract Number:
Resource Type:
Country of Publication:
United States
25 ENERGY STORAGE; 29 ENERGY PLANNING, POLICY, AND ECONOMY; REopt; energy storage; battery; modeling; storage economics; energy systems integration

Citation Formats

Anderson, Kate. Optimizing Energy Storage Economics. United States: N. p., 2016. Web.
Anderson, Kate. Optimizing Energy Storage Economics. United States.
Anderson, Kate. Fri . "Optimizing Energy Storage Economics". United States. doi:.
title = {Optimizing Energy Storage Economics},
author = {Anderson, Kate},
abstractNote = {This poster details how REopt - NREL's software modeling platform for energy systems integration and optimization - can help to optimize energy storage economics.},
doi = {},
journal = {},
number = ,
volume = ,
place = {United States},
year = {Fri Jul 01 00:00:00 EDT 2016},
month = {Fri Jul 01 00:00:00 EDT 2016}

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  • This paper is a result of work done by the Westinghouse Electric Corporation on a $1.8 million, 3 1/2 year study funded by DOE and EPRI. The potential future market for Compressed Air Energy Storage (CAES) system is substantial. The savings realized by utilizing CAES power plants can be very attractive with the proper generation mix. The thermodynamic parametric performance studies that were conducted to screen the various aquifer charging and discharging cycles are discussed. Equations are presented to directly calculate the optimum (minimum required total compressor work and air cooler heat rejection) intercooler(s) location for a compressor train utilizingmore » one and two intercoolers. An equation is also presented which directly determines the reheat combustor location required to maximize the turbine train output. A discussion is included why the performance of CAES power cycles must be optimized by considering the total power production energy costs not on a basis of maximum turbine output power or heat rate. Hardware and economic considerations which lead to CAES LP turbomachinery component standardization are discussed. Such standardization allows a manufacturer to economically adapt its CAES turbomachinery to a range of different air storage pressures.« less
  • The US Department of Energy (DOE) manages a multibillion dollar environmental management (EM) program. In June 1996, the Assistant Secretary of Energy for EM issued a memorandum with guidance and a vision for a ten year planning process for the EM Program. The purpose of this process, which became known as the Accelerated Cleanup: Focus on 2006, is to make step changes within the DOE complex regarding the approach for making meaningful environmental cleanup progress. To augment the process, Assistant Secretary requested the site contractors to engage in an effort to identify and evaluate integration alternatives for EM waste streammore » treatment, storage, and disposal (TSD) that would parallel the 2006 Plan. In October 1996, ten DOE contractor installations began the task of identifying alternative opportunities for low level radioactive waste (LLW). Cost effective, efficient solutions were necessary to meet all requirements associated with storing, characterizing, treating, packaging, transporting, and disposing of LLW while protecting the workers` health and safety, and minimizing impacts to the environment. To develop these solutions, a systems engineering approach was used to establish the baseline requirements, to develop alternatives, and to evaluate the alternatives. Key assumptions were that unique disposal capabilities exist within the DOE that must be maintained; private sector disposal capability for some LLW may not continue to exist into the foreseeable future; and decisions made by the LLW Team must be made on a system or complex wide basis to fully realize the potential cost and schedule benefits. This integration effort promoted more accurate waste volume estimates and forecasts; enhanced recognition of existing treatment, storage, and disposal capabilities and capacities; and improved identification of cost savings across the complex.« less
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