Imperial College London

DrAdamHawkes

Faculty of EngineeringDepartment of Chemical Engineering

Reader in Energy Systems
 
 
 
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Contact

 

+44 (0)20 7594 9300a.hawkes

 
 
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Assistant

 

Ms Quasirat Hasnat +44 (0)20 7594 7250

 
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Location

 

C502Roderic Hill BuildingSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Schmidt:2019:10.1016/j.joule.2018.12.008,
author = {Schmidt, O and Melchior, S and Hawkes, A and Staffell, I},
doi = {10.1016/j.joule.2018.12.008},
journal = {Joule},
pages = {81--100},
title = {Projecting the Future Levelized Cost of Electricity Storage Technologies},
url = {http://dx.doi.org/10.1016/j.joule.2018.12.008},
volume = {3},
year = {2019}
}

RIS format (EndNote, RefMan)

TY  - JOUR
AB - © 2018 Elsevier Inc. The future role of stationary electricity storage is perceived as highly uncertain. One reason is that most studies into the future cost of storage technologies focus on investment cost. An appropriate cost assessment must be based on the application-specific lifetime cost of storing electricity. We determine the levelized cost of storage (LCOS) for 9 technologies in 12 power system applications from 2015 to 2050 based on projected investment cost reductions and current performance parameters. We find that LCOS will reduce by one-third to one-half by 2030 and 2050, respectively, across the modeled applications, with lithium ion likely to become most cost efficient for nearly all stationary applications from 2030. Investments in alternative technologies may prove futile unless significant performance improvements can retain competitiveness with lithium ion. These insights increase transparency around the future competitiveness of electricity storage technologies and can help guide research, policy, and investment activities to ensure cost-efficient deployment.
AU - Schmidt,O
AU - Melchior,S
AU - Hawkes,A
AU - Staffell,I
DO - 10.1016/j.joule.2018.12.008
EP - 100
PY - 2019///
SP - 81
TI - Projecting the Future Levelized Cost of Electricity Storage Technologies
T2 - Joule
UR - http://dx.doi.org/10.1016/j.joule.2018.12.008
VL - 3
ER -