Economics of electric energy storage. The case of Western Balkans

Topalović, Zejneba; Haas, Reinhard; Ajanović, Amela; Hiesl, Albert

doi:10.1016/j.energy.2021.121669

Cited by 30 publications

(13 citation statements)

References 27 publications

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“…They find that pumped hydro storage is the most competitive among long‐term, sodium‐sulfur batteries among medium‐term and supercapacitors among short‐term storage technologies. Topalović et al (2022) apply the LCOE approach for the Western Balkans, assessing pumped hydro storage and battery storage technologies and finding that pumped hydro storage is still the most economical storage technology in this region.…”

Section: Selected Referencesmentioning

confidence: 99%

On the economics of storage for electricity: Current state and future market design prospects

Haas

Kemfert

Auer

et al. 2022

WIREs Energy & Environment

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Since the early beginnings of the electricity system, storage has been of high relevance for balancing supply and demand. Through expanded electricity production by variable renewable technologies such as wind and photovoltaics, the discussion about new options for storage technologies is emerging. In addition, the electricity markets were subject to remarkable alterations. Some developments which describe these changes are increasing electricity generation from variable renewables and the continuing decentralization. These developments have led, among other required transformations, to demands for additional capacities of storage technologies. However, their economics will play a crucial role in their effective market penetration in the following years.The core objective of this work is to conduct a review on the relevance of storage options for electricity and its costs, economics, welfare effects, and on issues of electricity market design. In addition, based on expected Technological Learning prospects for future economics are derived. The major result is that the perspectives of electricity storage systems from an economic viewpoint are highly dependent on the storage's operation time, the nature of the overall system, availability of other flexibility options, and sector coupling. All market-based storage technologies have to prove their performance in the large electricity markets or if applied decentralized, the (battery) systems compete with the electricity prices at the final customers level when the battery costs are also taken into consideration. Yet, new storage capacities should only be added when it is clear that electricity generation from variable renewables will also be expanded in a way that excess generation is expected.

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Section: Selected Referencesmentioning

confidence: 99%

On the economics of storage for electricity: Current state and future market design prospects

Haas

Kemfert

Auer

et al. 2022

WIREs Energy & Environment

Self Cite

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show abstract

“…Long Run Model Test Result, it can be concluded that in the long term, the variable fuel and engine oil imports in Indonesia in the previous year will have a negative effect on the imports of fuel and engine oil in Indonesia in the current year. In the long run, the total population has a negative effect on fuel and engine oil imports in Indonesia, because in the future, the public transportation is cheaper and the vehicle company will produce only electrical vehicle without with uses more fuel and engine oil (Chand et al, 2022;Topalović et al, 2022).…”

Section: Conditional Ecmmentioning

confidence: 99%

“…Because in the current energy will be more to renewable energy like electric based energy (Chand et al, 2022). The Vehicle volume variable has a negative effect on the dependent variable because the current vehicle company uses electric energy (Topalović et al, 2022). While the variable of total population, exchange rate and foreign exchange reserve in one year earlier are influence positively on the dependent variable.…”

Section: Partial Test (T-test)mentioning

confidence: 99%

“…If the population increases, fuel, and engine oil imports will also increase to meet the people consumption. In contrast, for the long run, the total population has a negative effect on fuel and engine oil imports in Indonesia, because in the future, the public transportation is cheaper and the vehicle company will produce only electrical vehicle without with uses more fuel and engine oil (Chand et al, 2022;Topalović et al, 2022).…”

Section: Total Population and Imported Fuel And Engine Oilmentioning

confidence: 99%

“…The results of the study showed that the volume of vehicle impact negatively on the variable volume of imports of fuels and engine oil in Indonesia. The Vehicle volume variable has a negative effect on the dependent variable because the current vehicle company uses electric energy (Topalović et al, 2022).…”

Section: Vehicle Volume and Imported Fuel And Engine Oilmentioning

confidence: 99%

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This study examines and analyzes the energy economic policy of Indonesia with population, energy consumption and its macroeconomic condition in the short-run and long-run. In the long run, this study found that the non-renewable energy will be replaced with renewable energy. One of Indonesia's imported energy commodities is fuel and engine oil consumer goods. Based on the unit root test results, the Autoregressive Distributed Lag (ARDL) Model is the most appropriate model used in this study. The coefficient of determination indicated by the R-squared is 0.967579, which means the model can explain 96.8% of the international trade and its macroeconomic factors on the volume of imported fuel and engine oil in Indonesia. This study uses independent variables like total population, vehicle volume, gross domestic product (GDP), exchange rates, and foreign exchange reserves. These variables were fruitful in explaining the critical factors in the imported volume of fuel and engine oil, which are essential public goods used in daily activities and have to meet the people's consumption. In addition, the result reveals that the interesting thing is in the long run, the total population negatively affects fuel and engine oil imports in Indonesia.

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Economics of electric energy storage. The case of Western Balkans

Cited by 30 publications

References 27 publications

On the economics of storage for electricity: Current state and future market design prospects

On the economics of storage for electricity: Current state and future market design prospects

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