What is the case of Western Balkans?

The case of Western Balkans - ScienceDirect Economics of electric energy storage. The case of Western Balkans State of the art of technology and application of pumped hydro and battery storage systems. Overview of the installed electricity storage capacities in Western Balkans.

Could energy storage be a key component of energy balancing costs?

Paris Agreement has influenced a higher generation of renewable systems that impact energy balancing costs and question future energy supply stability. Energy storage could be the key component for efficient power systems transition from fossil fuels to renewable sources.

How is energy storage based on capital-recovery-factors?

The method of approach is based on an economic assessment of the different types of storage depending on capital-recovery-factors for the capital costs, life cycle costs, full load hours, the price spread of electricity in the day-ahead markets, and Levelized costs of energy storage. Sensitivity analysis of the market prices is conducted.

When is stored energy pumped back to the upper level?

Stored energy is pumped back to the upper level when demand is low, especially during the night. Overview of installed capacities shows how this method of storage has been used for many years.

What is the economic driver of pumped hydro storage technology?

The economic driver of the pumped hydro storage technology is the flexibility of demand-supply. With the high integration of renewable systems, the operating of the power systems should be managed efficiently.

How can energy storage systems contribute to the energy transition?

With extended penetration of renewable energy sources in electricity grids, due to the Paris Agreement, energy storage systems could play a crucial role in the energy transition by enhancing reliability, flexibility, and security of the European energy industry supply.