Engineering, Scientific, and Policy Inputs for Developing a Levelized Cost of Energy Storage Model

The new generation of more powerful, energy-intensive devices for communications, industrial production, energy storage and other purposes is creating new challenges to guard against environmental harm and protect national security. Many devices are designed, used and disposed of in a linear, rather than circular manner. This causes scientific, legal and economic issues because the life-cycle costs of components are not adequately considered. Dealing with these issues in isolation from each other can lead to unintended consequences. New models to confront these issues are being defined. This paper suggests a fundamental tool for dealing with material science issues while taking into account the engineering, economic and policy perspectives. That tool is the development of a true, levelized cost of energy storage model with a wide spectrum of inputs for comprehensive analysis. This paper will discuss inputs and the process which can yield meaningful, useful comparisons among batteries and energy-intensive products.