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Storage technologies that meet the economic, technical performance, and system design requirements of the intended application are well positioned to achieve widespread adoption in the electric power industry. PRIORITY APPLICATIONS FOR ENERGY STORAGE TECHNOLOGIES The wide range of chemistries and structures of energy storage devices enables them to meet the duration, capacity, and frequency demands of specific applications. Of the 15 to 20 unique storage applications that have been identified, there are five storage applications that have the greatest overall potential to benefit power system planning and operations: area and frequency regulation, renewables grid integration, transmission and distribution upgrade deferral and substitution, load following, and electric energy time shift. Area and frequency regulation and certain aspects of renewables grid integration are short-duration power management applications, while transmission and distribution upgrade deferral and substitution, load following, and electric energy time shift (including renewables) are long-duration energy management applications. The stationary energy storage technologies used in these applications must meet certain economic, technical performance, and design targets in order to optimize grid functionality. While the metrics and targets will vary depending on the specific energy storage technology or device and the location of the application, they can serve as guidelines for researchers and the electric power industry to assess the value of individual technologies. Many storage technologies currently meet one or several of the proposed metrics. However, in order to achieve widespread commercial deployment, storage systems must meet the targets that will offer the right combination of performance and cost-effectiveness required for market acceptance. The metrics and targets for storage technologies applied to area and frequency regulation, renewables grid integration, transmission and distribution upgrade deferral and substitution, load following, and electric energy time shift are provided in Table 2. These performance targets were set at the workshop held prior to the advanced materials workshop; additional detail is available in the Electric Power Industry Needs for Grid-Scale Storage Applications report. UNDERSTANDING THE COST TARGETS The normalized cost of energy storage systems is a key consideration for the electric power industry. Setting realistic and achievable cost targets for energy storage technologies can help guide research and development efforts from an end-user perspective while increasing the likelihood that device developers will be able to achieve them. The targets in Table 2 represent an attempt to accomplish this objective; however, such targets require several caveats. Storage system costs depend on the system location, size, and grid storage application. The complexity of cost targets emphasizes the need for both device developers and the electric power industry to recognize the imprecise nature of these targets. The actual cost of a storage technology must reflect the value of storage when used for a single grid application or for multiple simultaneous applications. 12 ADVANCED MATERIALS AND DEVICES FOR STATIONARY ELECTRICAL ENERGY STORAGE APPLICATIONSPDF Image | Devices for Stationary Electrical Energy Storage Applications
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