Volume 4: Innovative Solutions for Energy Transitions: Part III

Design of a Liquid Air Energy Storage – Economic vs Thermodynamic Criteria Andrea Vecchi, Yongliang Li, Pierluigi Mancarella, Adriano Sciacovelli

Abstract

Thermo-mechanical energy storage deployment in future energy grids presumes economic profitability is achieved through their operation. However, suitable technology design should not be pursued regardless of a technical evaluation of storage performance. In this paper, a combined economic and thermodynamic analysis is used to point out what are the guidelines for optimal size of a Liquid Air Energy Storage (LAES) system. Results show payback time around 25 years. They also suggest that, while financially a smaller liquefier should be preferable, this on the other hand implies higher thermodynamic inefficiencies.

Keywords Liquid Air Energy Storage, Economic analysis, Thermodynamic analysis, System design