The impact of cost and energy storage on power sector decarbonisation

Subhadip Bhattacharya; Rangan Banerjee; Ariel Liebman; Venkatasailanathan Ramadesigan; Roger Dargaville

doi:10.1109/NAPS58826.2023.10318560

The impact of cost and energy storage on power sector decarbonisation

Subhadip Bhattacharya, Rangan Banerjee, Ariel Liebman, Venkatasailanathan Ramadesigan, Roger Dargaville

Research output: Chapter in Book/Report/Conference proceeding › Conference Paper › Research › peer-review

2 Citations (Scopus)

Abstract

As India embarks on a decarbonisation trajectory following its net-zero commitments at Glasgow in 2021, this paper evaluates the impact of the declining cost of solar and battery storage technologies as well as the cost of capital (CoC) on the future net-zero portfolio of the Indian power sector. The analysis uses an hourly-resolved, technology-explicit, bottom-up TIMES-based cost optimisation and modelling framework incorporating various power generation, energy storage, and green hydrogen (GH2) production technologies with thermal power plant flexibility constraints. The results indicate that in an optimistic cost scenario, a future 100 % non-fossil-fuel-based (FFB) power sector complimented by energy storage will be able to meet India's demand for round-the-clock electricity and GH2. Achieving a smooth net-zero power sector transition requires the CO₂ emissions to peak by 2035 and then gradually decline and taper off after 2060. In this case, the crossover between the generation share of FFB and non-FFB resources will occur early next decade. The output from energy storage is likely to meet 20 % of India's end-use electricity demand by 2070. The transition cost will be highly capital-intensive, which will increase significantly with a higher CoC.

Original language	English
Title of host publication	2023 North American Power Symposium, NAPS 2023
Editors	Andy Ritenour
Place of Publication	Piscataway NJ USA
Publisher	IEEE, Institute of Electrical and Electronics Engineers
Pages	965-971
Number of pages	7
ISBN (Electronic)	9798350315097
ISBN (Print)	9798350315103
DOIs	https://doi.org/10.1109/NAPS58826.2023.10318560
Publication status	Published - 2023
Event	North American Power Symposium 2023 - Asheville, United States of America Duration: 15 Oct 2023 → 17 Oct 2023 Conference number: 55th https://ieeexplore.ieee.org/xpl/conhome/10318157/proceeding (Proceedings) https://www.wcu.edu/engage/professional-enrichment/conferences-and-community-classes/naps-2023/index.aspx (Website)

Conference

Conference	North American Power Symposium 2023
Abbreviated title	NAPS 2023
Country/Territory	United States of America
City	Asheville
Period	15/10/23 → 17/10/23
Internet address	https://ieeexplore.ieee.org/xpl/conhome/10318157/proceeding (Proceedings) https://www.wcu.edu/engage/professional-enrichment/conferences-and-community-classes/naps-2023/index.aspx (Website)

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Cost
Decarbonisation
Energy storage
Indian power sector
Net-zero
Renewable integration
TIMES model

Access to Document

10.1109/NAPS58826.2023.10318560

Cite this

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title = "The impact of cost and energy storage on power sector decarbonisation",

abstract = "As India embarks on a decarbonisation trajectory following its net-zero commitments at Glasgow in 2021, this paper evaluates the impact of the declining cost of solar and battery storage technologies as well as the cost of capital (CoC) on the future net-zero portfolio of the Indian power sector. The analysis uses an hourly-resolved, technology-explicit, bottom-up TIMES-based cost optimisation and modelling framework incorporating various power generation, energy storage, and green hydrogen (GH2) production technologies with thermal power plant flexibility constraints. The results indicate that in an optimistic cost scenario, a future 100 \% non-fossil-fuel-based (FFB) power sector complimented by energy storage will be able to meet India's demand for round-the-clock electricity and GH2. Achieving a smooth net-zero power sector transition requires the CO2 emissions to peak by 2035 and then gradually decline and taper off after 2060. In this case, the crossover between the generation share of FFB and non-FFB resources will occur early next decade. The output from energy storage is likely to meet 20 \% of India's end-use electricity demand by 2070. The transition cost will be highly capital-intensive, which will increase significantly with a higher CoC.",

keywords = "Cost, Decarbonisation, Energy storage, Indian power sector, Net-zero, Renewable integration, TIMES model",

author = "Subhadip Bhattacharya and Rangan Banerjee and Ariel Liebman and Venkatasailanathan Ramadesigan and Roger Dargaville",

note = "Publisher Copyright: {\textcopyright} 2023 IEEE.; North American Power Symposium 2023, NAPS 2023 ; Conference date: 15-10-2023 Through 17-10-2023",

year = "2023",

doi = "10.1109/NAPS58826.2023.10318560",

language = "English",

isbn = "9798350315103",

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editor = "Andy Ritenour",

booktitle = "2023 North American Power Symposium, NAPS 2023",

publisher = "IEEE, Institute of Electrical and Electronics Engineers",

address = "United States of America",

url = "https://ieeexplore.ieee.org/xpl/conhome/10318157/proceeding, https://www.wcu.edu/engage/professional-enrichment/conferences-and-community-classes/naps-2023/index.aspx",

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Bhattacharya, S, Banerjee, R, Liebman, A, Ramadesigan, V & Dargaville, R 2023, The impact of cost and energy storage on power sector decarbonisation. in A Ritenour (ed.), 2023 North American Power Symposium, NAPS 2023. IEEE, Institute of Electrical and Electronics Engineers, Piscataway NJ USA, pp. 965-971, North American Power Symposium 2023, Asheville, North Carolina, United States of America, 15/10/23. https://doi.org/10.1109/NAPS58826.2023.10318560

The impact of cost and energy storage on power sector decarbonisation. / Bhattacharya, Subhadip; Banerjee, Rangan; Liebman, Ariel et al.
2023 North American Power Symposium, NAPS 2023. ed. / Andy Ritenour. Piscataway NJ USA: IEEE, Institute of Electrical and Electronics Engineers, 2023. p. 965-971.

Research output: Chapter in Book/Report/Conference proceeding › Conference Paper › Research › peer-review

TY - GEN

T1 - The impact of cost and energy storage on power sector decarbonisation

AU - Bhattacharya, Subhadip

AU - Banerjee, Rangan

AU - Liebman, Ariel

AU - Ramadesigan, Venkatasailanathan

AU - Dargaville, Roger

N1 - Conference code: 55th

PY - 2023

Y1 - 2023

N2 - As India embarks on a decarbonisation trajectory following its net-zero commitments at Glasgow in 2021, this paper evaluates the impact of the declining cost of solar and battery storage technologies as well as the cost of capital (CoC) on the future net-zero portfolio of the Indian power sector. The analysis uses an hourly-resolved, technology-explicit, bottom-up TIMES-based cost optimisation and modelling framework incorporating various power generation, energy storage, and green hydrogen (GH2) production technologies with thermal power plant flexibility constraints. The results indicate that in an optimistic cost scenario, a future 100 % non-fossil-fuel-based (FFB) power sector complimented by energy storage will be able to meet India's demand for round-the-clock electricity and GH2. Achieving a smooth net-zero power sector transition requires the CO2 emissions to peak by 2035 and then gradually decline and taper off after 2060. In this case, the crossover between the generation share of FFB and non-FFB resources will occur early next decade. The output from energy storage is likely to meet 20 % of India's end-use electricity demand by 2070. The transition cost will be highly capital-intensive, which will increase significantly with a higher CoC.

AB - As India embarks on a decarbonisation trajectory following its net-zero commitments at Glasgow in 2021, this paper evaluates the impact of the declining cost of solar and battery storage technologies as well as the cost of capital (CoC) on the future net-zero portfolio of the Indian power sector. The analysis uses an hourly-resolved, technology-explicit, bottom-up TIMES-based cost optimisation and modelling framework incorporating various power generation, energy storage, and green hydrogen (GH2) production technologies with thermal power plant flexibility constraints. The results indicate that in an optimistic cost scenario, a future 100 % non-fossil-fuel-based (FFB) power sector complimented by energy storage will be able to meet India's demand for round-the-clock electricity and GH2. Achieving a smooth net-zero power sector transition requires the CO2 emissions to peak by 2035 and then gradually decline and taper off after 2060. In this case, the crossover between the generation share of FFB and non-FFB resources will occur early next decade. The output from energy storage is likely to meet 20 % of India's end-use electricity demand by 2070. The transition cost will be highly capital-intensive, which will increase significantly with a higher CoC.

KW - Cost

KW - Decarbonisation

KW - Energy storage

KW - Indian power sector

KW - Net-zero

KW - Renewable integration

KW - TIMES model

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U2 - 10.1109/NAPS58826.2023.10318560

DO - 10.1109/NAPS58826.2023.10318560

M3 - Conference Paper

AN - SCOPUS:85179558500

SN - 9798350315103

SP - 965

EP - 971

BT - 2023 North American Power Symposium, NAPS 2023

A2 - Ritenour, Andy

PB - IEEE, Institute of Electrical and Electronics Engineers

CY - Piscataway NJ USA

T2 - North American Power Symposium 2023

Y2 - 15 October 2023 through 17 October 2023

ER -

The impact of cost and energy storage on power sector decarbonisation

Abstract

Conference

UN SDGs

Keywords

Access to Document

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Cite this