| Summary: | Due to fundamental temporal mismatches between renewable energy generation and demand load, a long-duration energy storage system is required to power Prince Edward Island’s (PEI) electricity system exclusively from on-island wind and solar resources. While a very large lithium battery is a technically capable solution, today’s battery technology is not cost effective; even as wind and solar generation costs become increasingly competitive with fossil fuel alternatives. To explore alternative storage technologies this comparative study utilizes the established hybrid optimization model for multiple energy resources (HOMER) techno-economic modeling tool to perform an application-based high-level comparison of an efficient but costly lithium battery technology solution with a much less efficient but lower-cost thermal-storage with steam-turbine concept; both capable of enabling a 100% wind and solar powered electricity supply for the island. Interestingly, the thermal storage turbine concept is shown to be competitive, at least in principle, with projected cost reductions in lithium battery technologies while also offering a number of distinct practical advantages.
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