Optimal strategies for a cost-effective and reliable 100% renewable electric grid
Abstract
This paper explores cost-optimal pathways to 100% renewable power systems for the U.S. building stock. We show that long-duration misalignments of supply and demand, spanning from multi-day to seasonal timescales, present a dominant challenge that must be addressed to meet real-time 100% renewable targets. While long-duration misalignments can be addressed through energy storage, we show that alternative and readily available solutions that are more cost-effective should be considered first. Through a techno-economic analysis, we identify cost-optimal, region-dependent, supply-side, and demand-side strategies that reduce, and in some U.S. regions eliminate, the otherwise substantial capacities and associated costs of long-duration energy storage. Investigated supply-side strategies include optimal mixes of renewable portfolios and oversized generation capacities. Considered demand-side strategies include building load flexibility and building energy efficiency investments. Our results reveal that building energy efficiency measures can reduce long-duration storage requirements at minimum total investment costs. In addition, oversizing and diversifying renewable generation can play a critical role in reducing storage requirements, remaining cost effective even when accounting for curtailed generation. We identify regionally dependent storage cost targets and show that for emerging long-duration energy storage innovations to achieve broad adoption, their costs will need to compete with the decreasing cost of renewables.more »
- Authors:
-
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
- Publication Date:
- Research Org.:
- National Renewable Energy Laboratory (NREL), Golden, CO (United States)
- Sponsoring Org.:
- USDOE
- OSTI Identifier:
- 1834305
- Alternate Identifier(s):
- OSTI ID: 1828825
- Report Number(s):
- NREL/JA-5500-77733
Journal ID: ISSN 1941-7012; MainId:30648;UUID:f4c6d061-616b-49f8-a098-5ae109a898f4;MainAdminID:61804; TRN: US2300522
- Grant/Contract Number:
- AC36-08GO28308
- Resource Type:
- Accepted Manuscript
- Journal Name:
- Journal of Renewable and Sustainable Energy
- Additional Journal Information:
- Journal Volume: 13; Journal Issue: 6; Journal ID: ISSN 1941-7012
- Publisher:
- American Institute of Physics (AIP)
- Country of Publication:
- United States
- Language:
- English
- Subject:
- 29 ENERGY PLANNING, POLICY, AND ECONOMY; 100% renewable; demand flexibility; energy efficiency; energy storage; renewable energy
Citation Formats
Houssainy, Sammy, and Livingood, William. Optimal strategies for a cost-effective and reliable 100% renewable electric grid. United States: N. p., 2021.
Web. doi:10.1063/5.0064570.
Houssainy, Sammy, & Livingood, William. Optimal strategies for a cost-effective and reliable 100% renewable electric grid. United States. https://doi.org/10.1063/5.0064570
Houssainy, Sammy, and Livingood, William. Tue .
"Optimal strategies for a cost-effective and reliable 100% renewable electric grid". United States. https://doi.org/10.1063/5.0064570. https://www.osti.gov/servlets/purl/1834305.
@article{osti_1834305,
title = {Optimal strategies for a cost-effective and reliable 100% renewable electric grid},
author = {Houssainy, Sammy and Livingood, William},
abstractNote = {This paper explores cost-optimal pathways to 100% renewable power systems for the U.S. building stock. We show that long-duration misalignments of supply and demand, spanning from multi-day to seasonal timescales, present a dominant challenge that must be addressed to meet real-time 100% renewable targets. While long-duration misalignments can be addressed through energy storage, we show that alternative and readily available solutions that are more cost-effective should be considered first. Through a techno-economic analysis, we identify cost-optimal, region-dependent, supply-side, and demand-side strategies that reduce, and in some U.S. regions eliminate, the otherwise substantial capacities and associated costs of long-duration energy storage. Investigated supply-side strategies include optimal mixes of renewable portfolios and oversized generation capacities. Considered demand-side strategies include building load flexibility and building energy efficiency investments. Our results reveal that building energy efficiency measures can reduce long-duration storage requirements at minimum total investment costs. In addition, oversizing and diversifying renewable generation can play a critical role in reducing storage requirements, remaining cost effective even when accounting for curtailed generation. We identify regionally dependent storage cost targets and show that for emerging long-duration energy storage innovations to achieve broad adoption, their costs will need to compete with the decreasing cost of renewables. The findings of this research are particularly important given that most long-duration storage technologies are currently either uneconomical, geologically constrained, or still underdeveloped.},
doi = {10.1063/5.0064570},
journal = {Journal of Renewable and Sustainable Energy},
number = 6,
volume = 13,
place = {United States},
year = {2021},
month = {11}
}
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