The role and value of inter-seasonal grid-scale energy storage in net zero electricity systems

Abstract

Grid-scale inter-seasonal energy storage and its ability to balance power demand and the supply of renewable energy may prove vital to decarbonise the broader energy system. Whilst there is a focus on techno-economic analysis and battery storage, there is a relative paucity of work on grid-scale energy storage on the system level with the required temporal resolution. Here, we evaluate the potential of power-to-gas-to-power as inter-seasonal energy storage technology. Our results suggest that inter-seasonal energy storage can reduce curtailment of renewable energy, and overcapacity of intermittent renewable power. Importantly, grid scale energy storage assumes a critical role especially when the technology options for dispatchable power are limited. It appears that neither high CAPEX nor low round-trip efficiency preclude the value of the technology per se, however the rate of charge and discharge of the technology emerges as key technical characteristic. This study emphasises the rising importance of balancing seasonality in energy systems characterised by a high penetration of renewable energy, and prompts questions regarding sector integration and resilient decision-making toward a zero-carbon economy.