Comparison of Energy Storage Methods for Renewable Energy

Abstract

This thesis provides an overview of the current transformation of energy production and delivery from the centralized model to the distributed model. It is shown that the key to transformation from the centralized model to the distributed model is energy storage. Three methods of energy storage for residential renewable energy applications are compared using models for three applications. The methods of energy storage modeled are battery storage, hot water storage and hydrogen storage. The residential applications present an ideal case, an average case and a worst case scenario. The energy storage methods are compared in terms of environmental impact, maturity of technology, up-front cost, payback time, safety and reliability (maintenance cost). Each factor is graded on a 10 point scale with 10 being the best and 1 being the worst. It is found that battery storage is the best method currently available for energy storage. Additionally, promising technological innovations in each field are discussed and the implications for the energy industry are considered.