Method for quantifying value of storage toward reaching 100% renewable electricity
Optimization models can be quite powerful in identifying a pathway to lowest cost zero-carbon energy systems. However, it is less obvious how to invert the models to calculate the target cost and duration of storage needed for that storage to be a significant solution. Storage is a dispatchable and flexible resource with the ability to perform many functions of grid support, further complicating the analysis. This paper complements existing papers by presenting an academic study of a simplified energy system, demonstrating a method for quantifying cost and duration targets for storage. The simplified analysis also helps to gain intuition about the synergistic relationship between storage and solar energy in a location like the state of California.