Publications Details

Defining a Business Model for Utility-Scale Thermal Energy Storage – Value Proposition, Needs, and Opportunities

Laubscher, Hendrik F.; Ho, Clifford K.; Guin, Kyle G.; Ho, Gordon; Willard, Steve

The need for reliable, cost-effective, utility scale energy storage that is universally applicable across different regions is becoming evident with the global transition towards non-polluting renewable energy resources. The operations and management of these energy storage technologies introduces a unique challenge that is inherently different from the conventional energy storage in the form of fossil fuel. The investigation into the business model, value proposition and economic viability of a utility scale thermal energy storage was part of a program sponsored by the United States Department of Energy, called Energy I-Corps. During this program, the project team reached out to a series of industry stakeholders to conduct interviews on the topic of thermal energy storage for utility scale power generation. Specific focus was placed on the business model based on the market needs in the context of the power grid in the United States. The utilization and re-use of infrastructure at existing thermo-electric power plants yielded the most viable business model for the implementation of the form of thermal energy storage discussed here.