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a simplified levelized cost of electricity (sLCOE) estimated at 11.2 ¢/kWh1 (Table S.1). Accounting for the power loss to the geothermal power project associated with diverting geothermal resources for air heating results in a net 2-MW decrease in generation capacity, increasing the CAES project’s sLCOE by 1.8 ¢/kWh. Table S.1. Plant Capacity and Economic Indicators, Base Configuration for The Geysers Compression Generation MW MWh 15.4 61.6 13.4 53.6 Round Trip Efficiency (%) 60 52 Estimated Capital Cost (million $) $ 33.1 Estimated Cost Simplified per kW LCOE ($/kW) (¢/kWh) $ 2,151 11.2 $ 2,470 13.0 Gross Net MW 9.5 MWh 102 If growing demand for zero-emissions balancing options were to incentivize deployment of larger CAES systems, assuming the same utilization rate, capital costs, and operations and maintenance costs, a 46-MW facility (commensurate with 105 repurposed geothermal wells at assumed conditions) could see an estimated cost per kilowatt as low as $1,7092 and a corresponding sLCOE as low as 9.1¢/kWh. LCOE could be further reduced by applying carbon emissions offsets or other market or policy incentives. While LCOE is, as expected, highly sensitive to utilization rate and market pricing for both arbitrage and ancillary services such as balancing, other factors such as well workover costs and service lifetime of the individual wells can affect LCOE significantly. Should intermittent renewables development continue to grow over the coming century, the need for balancing options will likely grow as well. As society moves toward a lower-carbon energy mix, zero- emissions technologies such as geothermal-coupled CAES could offer an increasingly competitive option to offset the use of peaking gas generation, which currently supplies a large amount of balancing in the U.S., but which is associated with relatively high CO2 emissions intensity. However, additional work is needed to validate the results of this paper study to confirm that existing well completions can be repurposed for compressed air storage at costs that support their economic feasibility. Also, partnering with a utility to refine assumptions about long-term market pricing for arbitrage and ancillary services would be extremely helpful to understanding the nameplate capacities that would be most attractive to investors in the near-, mid- and long-term. 1 sLCOE calculated based on gross capacity of 15.4 MW, 35 wells, and 17% capacity factor, or 4 hours of power 2 generation per day coincident with peak demand. Using scaled exponents for material and manpower at 0.75, piping and surface improvements at 0.85, well refurbishment at 1.0, and 57% combined indirects. vPDF Image | Geothermally Well Based Compressed Air Energy Storage
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