Oil & Gas Research
Open Access

A New Paradigm for Large Volume Electric Energy Storage with Thermal Batteries and Efficient Retrieval

Warning: Undefined variable $i in /efsdata/omicsonline.org/httpdocs/peer-reviewed/abstract-page.php on line 156

Warning: Undefined variable $for_cr in /efsdata/omicsonline.org/httpdocs/peer-reviewed/abstract-page.php on line 156
Copyright: © 2020  . This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

To read the full article Peer-reviewed Article PDF

The present study investigated the price dynamics of carbon dioxide, electricity, natural gas, and capital interest rates to generate a series of cost curves for designing power to gas energy storage systems in different locations. The profitability of power to gas energy storage systems is driven by commodity and regulatory markets that control energy, greenhouse gas, and labour prices. The ability to rapidly determine the feasibility of this technology in different locations requires a rigorous sensitivity analysis of these four parameters in order to determine the net cost or profit of any installation. An iterative calculation approach was utilized to generate profitability curves for a variety of different applications and locations. The analysis was based on CO2Storage Ltd’s power-to-gas technology that converts combustion exhaust emissions into renewable methane. This approach yields a profitable path for converting all existing combustion systems into renewable based energy storage systems.

Keywords