Energy Storage Valuation

This wiki page identifies key gaps in the current field of energy storage modeling tools, characterizes key differences between energy storage modeling and valuation tools, and identifies where specific tools fall in this characterization. In addition, this report presents the beginnings of a quantitative benchmarking and comparison exercise between select tools meant to highlight their modeling differences and help the reader understand where certain tools are most applicable. This exercise will be expanded in future publications. The results show broad alignment between tools’ modeling approaches, and the key differences come out in scope, usability, and how the modeling approach (for example, perfect foresight dispatch optimization) is applied. These differences show up strongly in the quantitative benchmarking results, where there is less alignment despite similar modeling approaches owing to differences in implementation and applicability.