Lithium iron phosphate energy storage cost analysis method

Are lithium iron phosphate batteries a viable energy storage project?

Lithium iron phosphate batteries have a long life cycle, with a 95% round-trip efficiency and a low charging cost. However, this type of energy storage project still faces many adversities.

What is the LCoS of lithium iron phosphate?

For transmission and distribution (T&D) application, the LCOS of lithium iron phosphate is the lowest, due to its long-life advantage compared to lead-carbon. The contradiction between human activities and the ecological environment has become increasingly prominent since the 20th century (Yu et al., 2020).

What are the end-of-life costs of energy storage power stations?

After the end of the service life of the energy storage power station, the assets of the power station need to be disposed of, and the end-of-life costs mainly include asset evaluation fees, clean-up fees, dismantling and transportation fees, and recycling and regeneration treatment fees.

What causes high ou of lithium iron phosphate batteries?

The positive and negative electrode materials of the batteries, the material side reactions of the electrolyte, the internal short circuit of the battery cores, and so on cause a high Ou of lithium iron phosphate batteries, as well as a power loss.

How to evaluate the cost of energy storage technologies?

In order to evaluate the cost of energy storage technologies, it is necessary to establish a cost analysis model suitable for various energy storage technologies. The LCOS model is a tool for comparing the unit costs of different energy storage technologies.

What is the LCoS of energy storage peak shaving?

The results show that in the application of energy storage peak shaving, the LCOS of lead-carbon (12 MW power and 24 MWh capacity) is 0.84 CNY/kWh, that of lithium iron phosphate (60 MW power and 240 MWh capacity) is 0.94 CNY/kWh, and that of the vanadium redox flow (200 MW power and 800 MWh capacity) is 1.21 CNY/kWh.