IEEE Std 1679-2020 pdf free download

IEEE Std 1679-2020 pdf free download.IEEE Recommended Practice for the Characterization and Evaluation of Energy Storage Technologies in Stationary Applications.
The costs in each of these categories are generally totaled on an annual basis. The annuali,ed costs are then used in a calculation of the net present value (NPV). based on a cost of money chosen by the end user.
In some cases, there may be cost savings for one of the technologies. For example. one technology may be able lo provide better life at high temperature, thus allowing for savings on air conditioning costs. Another example would be the case of a technology that allows the storage device to be placed closer to the loads, thereby reducing distribution costs. In both cases, the savings can be subtracted from the annual costs to produce an adjusted NPV.
For a new application in which the energy storage device is providing a benefit that was not previously available, it is necessary to place a value on the benefit and to include that value in the LCC analysis as a cost reduction. In some cases, there is a clear cost saving, such as savings in diesel fuel by using a storage system in a prime-power site, and in other cases the benefits may be less tangible. such as the provision of voltage support to local loads on the utility grid. Once all the benefits have been valued, they can be combined with the associated costs for the storage device, and an NPV can be calculated or the internal rate of return (IRR) for the investment can be assessed. lithe benefits include multiple use cases (i.e., stacked benefits) then careful consideration should be given to evaluate the priority of the use cases, and that some modes (such as peak shaving) may be limited by a requirement to maintain a minimum SOC to ensure availability for a higher priority usage (emergency backup).
When two competing systems are being compared, it is common to produce a graph of the cumulative NPV for each system. If a system with a higher initial cost has a lower cumulative NPV within a certain time (i.e., the graph lines cross), it may be judged to be a favorable investment. For an application In which a storage technology is being assessed on the basis of the benefits it can provide, a negative NPV(benefits exceed costs) or an IRR above a minimum level may indicate a favorable investment.
7.6 Performance assessment
Assessment of field performance is required to determine adherence to specified operating parameters and warranties supporting the system. It is also necessary to assess actual operating costs and benefits achieved by the storage system. Field performance can include assessment of overall reliability and many parameters that describe system operational characteristics including availability, Mean Time to Failure (MTTF), Mean Time Between Failures (MTIIF), system and component efficiency, as well as assessment of failure modes.IEEE Std 1679-2020 pdf free download.