Next Article in Journal
Development of a Matlab/Simulink Model for Monitoring Cell State-of-Health and State-of-Charge via Impedance of Lithium-Ion Battery Cells
Previous Article in Journal
Enhanced Electrochemical Properties of Na0.67MnO2 Cathode for Na-Ion Batteries Prepared with Novel Tetrabutylammonium Alginate Binder
 
 
Article

Multiple Scenario Analysis of Battery Energy Storage System Investment: Measuring Economic and Circular Viability

by 1,*,† and 2,†
1
School of Business and Law, University of Agder, 4879 Grimstad, Norway
2
Faculty of Engineering and Science, University of Agder, 4879 Grimstad, Norway
*
Author to whom correspondence should be addressed.
These authors contributed equally to this work.
Academic Editor: Seiji Kumagai
Batteries 2022, 8(2), 7; https://doi.org/10.3390/batteries8020007
Received: 2 November 2021 / Revised: 7 December 2021 / Accepted: 18 January 2022 / Published: 21 January 2022
Circular business models for batteries have been revealed in earlier research to achieve economic viability while reducing total resource consumption of raw materials. The objective of this study is to measure the economic performance of the preferred business model by creating different scenarios comparing second life (spent) and new battery investment for seven different European regions and four energy management strategies. Findings reveal levels of economic ability for a total of 34 scenarios simulated, including direct savings per kWh, a total change in energy costs per year, battery charge/discharge cycles, and comparative breakeven analyses. Regional effects are also measured based on day-ahead electricity prices and solar irradiation. The minimum payback time is 7 years before battery system investment costs are covered. The most viable energy management strategies also had the highest number of charge/discharge cycles, which decreases battery lifetime. Investment in a second life battery compared to a new battery reduced the payback time by 0.5 to 2 years due to lower investment costs. However, the estimated lifetime range (3 to 10 years) is lower compared to a new battery (5 to 15 years), which questions the circular business model viability for the scenarios studied. Energy management strategies should be combined and customized to increase economic benefits. View Full-Text
Keywords: battery energy storage system; simulation study; multiple scenario analysis; circular economy; circular business models; techno-economic assessment battery energy storage system; simulation study; multiple scenario analysis; circular economy; circular business models; techno-economic assessment
Show Figures

Figure 1

MDPI and ACS Style

Wrålsen, B.; Faessler, B. Multiple Scenario Analysis of Battery Energy Storage System Investment: Measuring Economic and Circular Viability. Batteries 2022, 8, 7. https://doi.org/10.3390/batteries8020007

AMA Style

Wrålsen B, Faessler B. Multiple Scenario Analysis of Battery Energy Storage System Investment: Measuring Economic and Circular Viability. Batteries. 2022; 8(2):7. https://doi.org/10.3390/batteries8020007

Chicago/Turabian Style

Wrålsen, Benedikte, and Bernhard Faessler. 2022. "Multiple Scenario Analysis of Battery Energy Storage System Investment: Measuring Economic and Circular Viability" Batteries 8, no. 2: 7. https://doi.org/10.3390/batteries8020007

Find Other Styles
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop