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Volume 13
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10.3390/pr13082400
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Article

Life Cycle Cost Modeling and Multi-Dimensional Decision-Making of Multi-Energy Storage System in Different Source-Grid-Load Scenarios

by
Huijuan Huo
1,
Peidong Li
1,
Cheng Xin
1,
Yudong Wang
1,*,
Yuan Zhou
2,
Weiwei Li
1,
Yanchao Lu
1,
Tianqiong Chen
1 and
Jiangjiang Wang
2
1
State Grid Economic and Technological Research Institute Co., Ltd., Beijing 102209, China
2
Hebei Key Laboratory of Energy Storage and Integrated Energy Systems, North China Electric Power University, Baoding 071003, China
*
Author to whom correspondence should be addressed.
Processes 2025, 13(8), 2400; https://doi.org/10.3390/pr13082400
Submission received: 29 June 2025 / Revised: 18 July 2025 / Accepted: 24 July 2025 / Published: 28 July 2025
(This article belongs to the Special Issue Evaluation, Decision-Making and Market Simulation of a New Type of Power System)
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Abstract

The large-scale integration of volatile and intermittent renewables necessitates greater flexibility in the power system. Improving this flexibility is key to achieving a high proportion of renewable energy consumption. In this context, the scientific selection of energy storage technology is of great significance for the construction of new power systems. From the perspective of life cycle cost analysis, this paper conducts an economic evaluation of four mainstream energy storage technologies: lithium iron phosphate battery, pumped storage, compressed air energy storage, and hydrogen energy storage, and quantifies and compares the life cycle cost of multiple energy storage technologies. On this basis, a three-dimensional multi-energy storage comprehensive evaluation indicator system covering economy, technology, and environment is constructed. The improved grade one method and entropy weight method are used to determine the comprehensive performance, and the fuzzy comprehensive evaluation method is used to carry out multi-attribute decision-making on the multi-energy storage technology in the source, network, and load scenarios. The results show that pumped storage and compressed air energy storage have significant economic advantages in long-term and large-scale application scenarios. With its fast response ability and excellent economic and technical characteristics, the lithium iron phosphate battery has the smallest score change rate (15.2%) in various scenarios, showing high adaptability. However, hydrogen energy storage technology still lacks economic and technological maturity, and breakthrough progress is still needed for its wide application in various application scenarios in the future.
Keywords: multi-energy storage; life cycle cost; comprehensive evaluation indicator system; ordinal relation-entropy weight method; multi-attribute decision making multi-energy storage; life cycle cost; comprehensive evaluation indicator system; ordinal relation-entropy weight method; multi-attribute decision making

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MDPI and ACS Style

Huo, H.; Li, P.; Xin, C.; Wang, Y.; Zhou, Y.; Li, W.; Lu, Y.; Chen, T.; Wang, J. Life Cycle Cost Modeling and Multi-Dimensional Decision-Making of Multi-Energy Storage System in Different Source-Grid-Load Scenarios. Processes 2025, 13, 2400. https://doi.org/10.3390/pr13082400

AMA Style

Huo H, Li P, Xin C, Wang Y, Zhou Y, Li W, Lu Y, Chen T, Wang J. Life Cycle Cost Modeling and Multi-Dimensional Decision-Making of Multi-Energy Storage System in Different Source-Grid-Load Scenarios. Processes. 2025; 13(8):2400. https://doi.org/10.3390/pr13082400

Chicago/Turabian Style

Huo, Huijuan, Peidong Li, Cheng Xin, Yudong Wang, Yuan Zhou, Weiwei Li, Yanchao Lu, Tianqiong Chen, and Jiangjiang Wang. 2025. "Life Cycle Cost Modeling and Multi-Dimensional Decision-Making of Multi-Energy Storage System in Different Source-Grid-Load Scenarios" Processes 13, no. 8: 2400. https://doi.org/10.3390/pr13082400

APA Style

Huo, H., Li, P., Xin, C., Wang, Y., Zhou, Y., Li, W., Lu, Y., Chen, T., & Wang, J. (2025). Life Cycle Cost Modeling and Multi-Dimensional Decision-Making of Multi-Energy Storage System in Different Source-Grid-Load Scenarios. Processes, 13(8), 2400. https://doi.org/10.3390/pr13082400

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