Design and economic analysis of compressed air energy storage systems for enhanced energy output

This research explores the optimization of Compressed Air Energy Storage systems (CAES). It focuses on finding the ideal combination of input factors, namely the motor size and gearbox ratio (GBR), to maximize energy output. The study employs factorial design of experiments and analyzes the impact of the previously mentioned factors on system performance. Additionally, the study utilizes the output results recorded after optimizing these factors to compare the Levelized Cost of Storage between CAES and Lithium Iron Phosphate battery technologies. The findings suggest that a medium-sized motor paired with a 2:1 gear ratio is optimal for CAES, offering enhanced energy output. The research underscores the importance of precise component selection in CAES system design and highlights the economic advantages of CAES with $4/kWh over battery storage with $28.66/kWh, particularly in large-scale energy storage applications.