Page 5 of 9 1.5 Consultant shall study for 20 MW solar plant, required in 1st phase on immediate basis. The study for 2nd and 3rd phase for Hybrid renewable power model (Solar + wind) and storage integration at 3rd phase should be limited to conceptual / pre-feasibility only. This is to conceptualize and establish achievability and no detailed study is required at this
Furthermore, another factor that affects the capacity and subsequently the financial feasibility of energy storage systems is the size and location of the modelled solar PV system.
While LIB storage clearly remains the most feasible energy storage technology with a LCOS of 3–5 times higher than the LCOE of grid electricity, the LCOS of the discharged energy from the H 2 storage and TES system is between 5 and 20 times higher than that of grid electricity.
Future research could also calculate the costs of energy storages with other electricity prices, as all detached houses do not necessarily use spot prices for their electricity contracts, and as the price of electricity has varied substantially in the Nordic spot market recently.
It was also shown that out of the considered energy storage technologies, LIB storage is the most financially feasible storage technology in small-scale applications with a LCOE close to the that of solar PV systems in some scenarios.
In order to evaluate the financial feasibility of integrating energy storage systems with solar PV system in detached houses, economic indicators able to compare the costs of the different storage scenarios with one another are needed.
Life-cycle cost (LCC) and levelized cost of energy (LCOE) were used as the primary economic indicators in this study and were calculated for the end-energy use of the building, in addition to the levelized cost of storage (LCOS) which was calculated for each of the modelled energy storage systems.
Page 5 of 9 1.5 Consultant shall study for 20 MW solar plant, required in 1st phase on immediate basis. The study for 2nd and 3rd phase for Hybrid renewable power model (Solar + wind) and storage integration at 3rd phase should be limited to conceptual / pre-feasibility only. This is to conceptualize and establish achievability and no detailed study is required at this
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