Energy & Power
Calculate your energy storage TCO with new EPRI tool
By Anthony Capkun
April 25, 2016 – A new interactive spreadsheet from the Electric Power Research Institute (EPRI) aims to help utility buyers and sellers of energy storage systems “understand and clearly define the total cost of ownership of these technologies”.
“Energy storage is an important resource for optimizing the grid of the future,” said Ben Kaun, manager of ESIC at EPRI. “This tool will provide accurate and transparent costs associated with utility-scale storage on the front end of the process so that there’s no buyer’s remorse on the back end.”
The cost of energy storage goes beyond the price of batteries, EPRI explains, which may only account for 1/4 to 1/2 of total project cost. There are more than 150 items to consider, says EPRI, such as shipping, warranties, installation and insurance.
The Energy Storage Integration Council (ESIC) Cost Tool provides a way to identify the costs associated with purchasing and installing an energy storage system that’s connected to the grid. It enables utilities and suppliers to indicate the breadth of scope for a system or project, allowing buyers to clarify what they need and suppliers to clarify what they are offering.
CLICK HERE to download the tool.
EPRI’s members represent about 90% of the electricity generated and delivered in the United States, while international participation extends to more than 30 countries.