Battery technology for utility-scale battery energy storage system applications: A comparative review

Battery Energy Storage Systems (BESS) play a crucial role in the energy transition, particularly as the adoption of renewable energy sources increases. Selecting the most suitable battery technology for specific applications is challenging due to each type's advantages. This paper provides a comprehensive review of three mature and commercialized battery technologies: Li-ion battery, Vanadium Redox Flow Battery (VRFB), and High-Temperature batteries, including Sodium Sulfur (NaS) and Sodium-Nickel-Chloride (NaNiCl₂). The comparison covers technological aspects based on information from literature and manufacturers and economic factors such as investment, operational and maintenance, and end-of-life costs. Additionally, the study discusses the specific requirements of BESS for tailored applications in small- and large-scale utility grids and presents current deployments worldwide. A key aspect of this comparison is the use of the Levelized Cost of Storage (LCOS) to evaluate economic viability. LCOS provides a comprehensive view of storage costs by considering all expenses over the system's lifetime, from installation to decommissioning. This study compiles and compares technical and economic factors, which are then contextualized within the specific requirements of the intended implementation. Ultimately, this study offers valuable insight for selecting the appropriate BESS technology for different utility-scale applications.