International Energy Agency Energy Storage Task 41 – The economic viability of energy storage

The transformation of the energy system is often discussed solely in terms of the expansion of renewable generation capacity. The potential of energy storage (be it electrical, thermal or chemical) receives little attention in this context. As part of a scoping phase for IEA ES Task 41, the following objectives were therefore defined: (i) to analyse the economic viability of energy storage systems (electrical, thermal and chemical), (ii) to quantify the value of energy storage, and (iii) to derive promising business models from this.

These objectives are being developed across the four subtasks of ES Task 41. Subtask A involves compiling existing methods for assessing economic viability and developing further methods. Subtask B estimates the maximum acceptable costs for energy storage. In Subtask C, existing success stories relating to energy storage systems are documented and analysed. Subtask D aims to use the information gathered in Subtasks A–C to create a systematic evaluation of energy storage systems and thus develop energy storage configurations for successful business cases. As part of these tasks, Austrian stakeholders will be involved through a comprehensive national communication and dissemination strategy. This will ensure a two-way exchange of insights and results.