A Techno-Economic Analysis of Lithium-Ion and Sodium-Ion Battery Energy Storage Systems in Buildings with Renewable Energy Sources
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Date
2024-05
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The Ohio State University
Abstract
Battery energy storage systems (BESS) provide various benefits, including renewable energy integration and grid support ancillary services, such as frequency regulation. The most commonly dispatched BESS are those of Lithium-ion (Li-ion) chemistries. However, concerns relating to depleting Lithium reserves as well as ethical issues relating to the extraction of Lithium and associated materials have provided motivation to search for a sustainable battery chemistry that can provide comparable, if not better, performance than Li-ion. An emerging technology of interest that may address this issue is the Sodium-ion (Na-ion) battery, due to the vast abundance of Sodium in nature and theoretical performance being similar to its Li-ion counterpart. In this Thesis, a techno-economic analysis of Li-ion and Na-ion BESS have been performed to determine their performance and financial metrics. The Energy Advancement and Innovation Center (EAIC) has been used to model a building with renewable energy resources, and a BESS of each chemistry has been designed to meet the optimal dispatch strategy to meet the load demand of the EAIC as determined by the Renewable Energy Integration and Optimization Tool (REopt) provided by the National Renewable Energy Laboratory (NREL). The financial metrics of each BESS have been obtained using the cashflows from REopt to determine the net present value (NPV) of each project. Then, using the power profile from REopt as an input, an electrothermal simulation for grid-connected storage has been developed to determine the performance metrics of each BESS chemistry. To simulate the performance metrics for frequency regulation, a RegD signal from PJM was used as the power profile for each BESS. The financial metrics of each BESS performing frequency regulation were obtained by calculating the credits using data from PJM. Finally, a comprehensive comparison of each technology has been provided for each BESS chemistry, accounting for its performance and financial metrics, while also considering the social and environmental impact of each technology.
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Keywords
sustainability, energy storage, renewable energy, sodium-ion batteries, techno-economic analysis, lithium-ion batteries