Technical and economic study of electrical energy storage systems by compressed air to manage consumption at peak load

In the present study, two proposed designs for compressed air storage systems, one equipped with heat recovery and the other without it, are presented and their technical analysis is performed. The costs of each project are evaluated and economic analysis including Net Present Value (NPV), Internal Rate of Return (IRR), Profitability Index (PI), and Discounted Payback Period (DPBP) is performed. These analyses are presented for storage energy values of 80, 220, 360, 480, 640, and 1000 kWh and storage pressures of 50, 100, 150, 200, 250, 300, 350, 400, and 450 bar. The results of the technical and economic analysis show that these systems are more justifiable to produce higher capacities at lower storage pressures. Finally, using the results of this analysis, the optimal energy storage plan of 640 kWh with storage pressure of 50 bar is proposed. The results of this study can be used to select a suitable compressed air storage system for peak shaving during peak hours of power consumption.