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ablish a reliable energy system with greater share of intermittent generation. In the context of Bulgaria's energy landscape, energy storage solutions present a diverse array of benefits to various stakeholders stemming fro its unique ability to time-shift energy and rapidly respond when called upon. The applic
Currently, Bulgaria's electricity market offers an opportunity for €110 ($122) per MWh profit on battery energy storage with two hours of discharge capacity using energy arbitrage. Rystad Energy 's analysis estimates battery system costs at a flat €60 ($67) per MWh.
The Bulgarian Energy Ministry opened a tender procedure for supply of energy storage on August 21, 2024. The procedure aims to provide funding for construction and implementation of a 3,000 MWh stand-alone battery storage facility. The total amount of the grant that can be provided under the procedure is €590 million ($ 536 million).
Bulgaria has installed between 40 MWh and 50 MWh of battery energy storge capacity to date. However, new national legislation as well as funds provided through the European Union's Recovery and Resilience Facility (RRF) could add another 1 GWh of storage capacity over the next two years.
The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.
To determine the total project costs for the Li-ion battery technology, for example, we take the product of the capital and C&C costs and its energy capacity (4,000*$372). We then add that value to the product of the PCS and BoP costs and the unit's power capacity (1,000*$388).
The assumptions listed in Table 5.1were adapted from a battery storage project located in the Pacific Northwest. It is believed that these are adequately representative of a typical storage system within the United States. Figure 5.1 shows an example input for an energy storage technology using the parameters described in Section 4.0.
Aquino et al. (2017) placed the value in a tighter range at $340–$450/kWh for a 4 MW/16 MWh Li-ion NMC system and a fully installed cost estimate of between $9.1 million and $12.8 million. They also provide price estimates for LFP and LTO systems at $340–$590/kWh and $500–$850/kWh, respectively.
Centrally managed storage facilities in island power systems dominate the relevant literature. Table 4 includes the papers dealing with the centrally managed storage concept. Table S2 of the Supplementary data and Fig. 7 present additional details for the most representative ones.
Undoubtedly, energy storage stations (ESS) are vital for the electricity sector of NII to move to penetrations of renewables over 50 %. As can be inferred from Table 1, pumped hydro storage (PHS) and battery energy storage (BES) technologies dominate the landscape of actual grid-scale applications for island systems.
Ιn, batteries and pumped-hydro storage have been identified as the leading storage technologies for islands, with the former effectively applicable to small and medium size system and the latter to large systems with natural reservoirs.
Significant research has also been conducted on the dynamic behavior of island systems in the presence of storage and the feasibility of storage investments. On the other hand, the contribution of storage to resource adequacy in islands has received limited investigation, presenting opportunities for further research in this area.
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