Smart grid research traditionally focuses on ICT, smart meters, electricity storage technologies, and local (electric) smart grids.
This paper presents a detailed analysis of the levelized cost of storage (LCOS) for different electricity storage technologies.
To this end, the study emphasizes the need for federal research and development support to advance low-cost, large-scale electricity storage technologies.
Thermo-electrical energy storage (TEES) based on thermodynamic cycles is currently under investigation at ABB corporate research as an alternative solution to more consolidated but site-dependent electricity storage technologies such as pump-hydro or compressed air energy storage.
Since a capacity of less than 1 MWh is sufficient for the energy system in Petite Martinique, typical large-scale bulk electricity storage technologies as high-temperature batteries such as sodium sulfur, pumped hydro, hydrogen storages, or compressed air energy storage systems are not applicable.
By contrast, the implements of the modern grid — renewables, electricity storage, and smart grid technology — respond quickly to shifts in electricity demand, and show promise of greatly reducing electricity costs.
By investing in new ways of reducing renewables intermittency – better battery technology, electricity storage, pairing wind and solar sources, etc. – the potentially pernicious interaction between intermittency and market pricing could be severed.
Electricity storage was also tested, a technology that Taylor describes as the "most exciting".
That means that barring a breakthrough technology in electricity storage, wind and solar are likely to contribute only small – that is, single-digit – percentages of our overall energy needs.
