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Energy Storage in the U.S.

Energy Storage in the U.S. Aaron Townsend National Renewable Energy Laboratory October 28, 2013 Colorado Rural Electric Association Energy Innovations Summit. Outline. Brief History Current Installations Value Challenge Additional Value Created by Deployment of Renewables Conclusions. 2.

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Energy Storage in the U.S.

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  1. Energy Storage in the U.S. Aaron Townsend National Renewable Energy Laboratory October 28, 2013 Colorado Rural Electric Association Energy Innovations Summit

  2. Outline • Brief History • Current Installations • Value Challenge • Additional Value Created by Deployment of Renewables • Conclusions 2 National Renewable Energy Laboratory Innovation for Our Energy Future

  3. Ancient History of Energy Storage (<1980) Challenges of meeting variations in demand provided early motivations for storage (<1980) - Projected nuclear builds (100s of GW) - Fuel Use Act of 1978 (no gas or petroleum plants)

  4. Installed Capacity

  5. Recent History (1980s-2000) • Limited Activity • PHS costs increase, increased siting challenges • Cheap natural gas • Limited nuclear build out • Exotic technologies remain costly • Cheaper and/or easier to meet variation in load and capacity requirements with conventional generation resources Fuel Use Act

  6. Existing Storage Facilities • CAES: 1 Plant (110 MW) • Others (<100 MW total): A few batteries, SMES, mostly for local power quality issues Conventional Pumped Hydro: ~ 22 GW

  7. More Recently • Renewed interest in storage • Emergence of energy and ancillary service markets • Natural gas price volatility • Perceived role of storage in enabling renewables

  8. Current Activities • Many proposed plants • Renewed RD&D funding via DOE ARRA and ARPA-E • California AB 2514 • Challenging economics

  9. What is Storage Worth? • Standard metrics (LCOE) are not particularly useful • Storage provides multiple values, but not all can be monetized

  10. Value of Storage in Restructured Markets Historical Values of Energy Storage in Restructured Electricity Markets a Sioshansi et al. 2009 b Walawalkar et al. 2007 c Figueiredo et al. 2006 d Eyer et al. 2004 e Denholm and Letendre 2007 10 10 National Renewable Energy Laboratory Innovation for Our Energy Future

  11. Value of Storage in U.S. Markets Arbitrage Only Regulation Only Contingency Only Arbitrage alone is generally insufficient to support most storage technologies, which are generally >$1,000/kW Renewable deployment will increase opportunities for economic storage deployment…..and also the competition 11 11 National Renewable Energy Laboratory Innovation for Our Energy Future

  12. Bottom Line on Value 12 12 • Current market conditions supports bulk storage at capital costs under $2000/kW for a 6 hour or more device National Renewable Energy Laboratory Innovation for Our Energy Future

  13. Impacts of Renewables on the Grid 13 13 • Storage is often perceived as “necessary” for renewables to achieve a large (>10%? >20%?) penetration. • Renewables are seen as a source of value for storage • Can renewables be used without storage? • How do renewables impact the grid? National Renewable Energy Laboratory Innovation for Our Energy Future

  14. So What are the Opportunities? 14 14 • Renewables increase the already existing value (and size) of markets for storage • Arbitrage/load leveling/unit cycling • Operating reserves • Transmission alternatives • How do storage economics compete with the alternatives? National Renewable Energy Laboratory Innovation for Our Energy Future

  15. Flexiblity Supply Curve 15 National Renewable Energy Laboratory Innovation for Our Energy Future

  16. Conclusions • Low-cost natural gas is currently the dominate force in U.S. electric power sector • Storage is being constructed based on R&D support and mandates. • Costs will need to be reduced substantially for storage to be cost competitive • Storage is undervalued in existing markets and it is still difficult to assess the true value and opportunities for energy storage in the current and future grid • Storage faces competition for other sources of flexibility 16 National Renewable Energy Laboratory Innovation for Our Energy Future

  17. Thank You Contact information: aaron.townsend@nrel.gov 303-275-3272

  18. Current Capacity

  19. Example Analysis • 300 MW energy-only device in Colorado • Energy-only device compared to reserves devices 19 19 National Renewable Energy Laboratory Innovation for Our Energy Future

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