Even at current market prices, various different energy storage options make economic sense for renewable energy projects in some locations, according to new research from MIT.
The energy storage options profiled by the study included: battery systems, pumped hydroelectric storage, and compressed air energy storage, amongst others. While these options are economically a good choice in some locations, in other locations, they are not.
The study also found that “regardless of the particular circumstances at a given location, certain features of how electricity prices fluctuate are common across locations and do favor some specific types of storage solutions over others.”
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