Optimization of charge/discharge scenarios and economic analysis of a liquid air energy storage system used in combination with a photovoltaic power source and a cold storage warehouse
Intermittency of renewable energy generation and electricity tariff variation make necessary theanalysis and optimization of different scenarios of charge/discharge cycle timing and duration of aLiquid Air Energy Storage (LAES) and the economics related to each case.Solar irradiation and PhotoVoltaic (PV) power plant size, electricity prices, on-site electricitydemand throughout the day/month/season and year are key factors here for the scenariosoptimization in terms of cost of electrical energy consumed from the grid. These factors are alsouseful to determine the maximum allowed investment of the LAES and the payback time accordingto each case scenario.Self-sufficiency and positive economics of the LAES combined to cold warehouse are reachedwhen PV power plant surface and solar irradiation are high enough. Therefore, there are optimalPV dimensions depending on the round trip efficiency of the LAES, the power capacitydischarge/charge ratio of the system and the geographic location of the site. Main results suggestthat LAES can only be profitable when electricity from grid is expensive.
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