While the aforementioned research primarily examines the microeconomic perspective, focusing on the application of specific energy storage (ES) technologies, there is also a body of literature that analyzes the macro-level impact of ES in regional power systems. The assessment of economic system effects often centers around cost reduction.
For instance, Johnson et al. evaluated the economic impacts of three energy storage technologies, namely Lithium-ion batteries, flywheels, and compressed air energy storage, using total cost of generation reductions to gauge the system value of each technology within a high-penetration renewable energy system.
Després et al. , for example, developed an electricity module incorporating storage in power systems with high penetration of variable renewable energy (VRE) and found that VRE integration is facilitated by storage, leading to reduced integration costs, curtailed surplus energy, and lower CO2 emissions.
Furthermore, the development of ES will accelerate the penetration rate of renewable energy, such as wind and solar, thereby bringing substantial indirect synergistic carbon reduction benefits. In general, a higher energy storage capacity will result in a greater negative externality in the short term.
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As the global demand for renewable energy grows and households seek more sustainable solutions, home energy storage systems are becoming increasingly significant.
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