Electricity Storages

Wolf-Peter Schill is Deputy Head of the Energy, Transportation, Environment Department at the German Institute for Economic Research (DIW Berlin), where he leads the research area Transformation of the Energy Economy. He engages in open-source power sector modeling, which he applies to economic analyses of renewable energy integration, energy storage, and sector coupling. He holds a diploma in environmental engineering and a doctoral degree in economics from Technische Universität Berlin.
The future role of stationary electricity storage is perceived as highly uncertain. One reason is that most studies into the future cost of storage technologies focus on investment cost. An appropriate cost assessment must be based on the application-specific lifetime cost of storing electricity. We determine the levelized cost of storage (LCOS) for 9 technologies in 12 power system applications from 2015 to 2050 based on projected investment cost reductions and current performance parameters.