An Economic Model of a Steam Accumulator Storage System for Nuclear Power Plants
The growth of non-dispatchable renewables benefits technologies with flexible load capabilities. Baseload technologies must accept low prices and revenues during low-demand periods that arise with increasing frequency as renewables deployment grows. For this reason, generators such as combined cycle gas turbines threaten to out-compete baseload, and nuclear power plants are facing early retirement. If utilities are to consider future nuclear power plants to be attractive investments they must excel at roles other than baseload generation. Energy storage offers a means to avoid times of low prices and capitalize on times of high prices, as well as for nuclear to participate in ancillary markets and provide grid stability and regulation services. This work explores the design of a steam accumulator system that can store energy from a nuclear plant. An economic model is created to determine the market conditions that will produce a profitable system. An energy storage capacity of 500 MWh is chosen as a base case, but the energy to power ratio (E/P ratio) is varied in sensitivity analyses while holding energy fixed. This paper first presents the proposed size and layout of the steam accumulator system. Next, it provides an overview of the thermodynamic model, which is used to determine the system size for base case conditions. An economic model is presented with sensitivity analyses, which show the effect of price volatility on net revenue. (authors)