Sustainable Value of Long-Duration Energy Storage in a Decarbonised Power System

Abstract

Our research aims to enhance the sustainable value framework by integrating stakeholder theory in a decarbonised power system. It emphasises the importance of managing the transition to renewable energy in a stable manner, addressing the intermittency challenge. By conceptualising ultralow-cost, long-duration energy storage (LDES) as a transition pathway, the study proposes advanced adiabatic compressed air energy storage (AA-CAES) as a significant solution to manage imbalances in renewable energy generation. The research sheds light on the alignment between environmental and social benefits in utility-scale renewable energy storage, emphasising supply-side interactions, acceptance, and community engagement. The study contributes fresh perspectives to stakeholder theory and offers conceptual and quantitative analysis to enrich the literature in this field, informing both theoretical understanding and managerial decision-making.