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Study of redox flow battery systems for residential applications A.3.1 Levelised cost of storage (LCOS) The levelised cost of storage (LCOS) is a reference value, in € kWh-1, for energy storage systems that is used to compare costs of each technology. This reference value is based on the levelised cost of electricity (LCOE), which is used to calculate and compare the cost of electricity production from several power plant types. For energy storage systems, instead of taking into account the electricity produced, the amount of electricity provided from discharges is used to calculate LCOS. Therefore, the LCOS allows to compare different types of energy storage systems in terms of cost per stored kWh. The LCOS can be calculated, in € kWh-1, with the following equation [2]: 𝑡=1 (1+𝑖)𝑡 where I0 is the cost of investment, t is the year of technical lifetime, At refers to the annual fixed and variable costs for year t (€), x is the technical lifetime (years), Mel is the stored electricity in each year (kWh) and i is the weighted average cost of capital, which may be assumed 8 %. It is critical to notice that the cost of the input energy is not taken into account in Eq. (A.1), however the price of the electricity may be included in the term At for specific calculations [2, 11]. A.4 Batteriesapplications Table A.2 - Comparison of different types of batteries for each key grid application [94]. 𝐼 +∑𝑥 ( 𝐴𝑡 ) LCOS = 0 𝑡=1 (1+𝑖)𝑡 (A1.1) ∑𝑥 (𝑀𝑒𝑙) Appendix A Electrical energy and storage device 51PDF Image | Tubular Vanadium Air Redox‐flow battery
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