The energy storage system could play a storage function for the excess energy generated during the conversion process and provide stable electric energy for the power system to meet the operational needs of the power system and promote the development of energy storage technology innovation.
Current Scenario of Energy Storage Systems There has been a prolific increase of the integration of intermittent renewable energy sources (RESs) such as wind and solar to the grid. The energy storage system mitigates the intermittencies introduced by these RESs and also stores the surplus energy generated by them, which can be used later.
To make sure that this expeditious increase of involvement of the storage system in different utility applications is sustainable, a detailed business model and profitability study on energy systems is necessary . Currently, the ESSs are not able to compete with the existing power generation technologies.
Besides, CAES is appropriate for larger scale of energy storage applications than FES. The CAES and PHES are suitable for centered energy storage due to their high energy storage capacity. The battery and hydrogen energy storage systems are perfect for distributed energy storage.
Zakeri and Syri also report that the most cost-efficient energy storage systems are pumped hydro and compressed air energy systems for bulk energy storage, and flywheels for power quality and frequency regulation applications.
The complexity of the review is based on the analysis of 250+ Information resources. Various types of energy storage systems are included in the review. Technical solutions are associated with process challenges, such as the integration of energy storage systems. Various application domains are considered.
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