StoreFAST: Storage Financial Analysis Scenario Tool
The Storage Financial Analysis Scenario Tool (StoreFAST) model enables techno-economic analysis of energy storage technologies in service of grid-scale energy applications.
Energy storage technologies offering grid reliability alongside renewable assets compete with flexible power generators. Today’s grid uses flexible power generators such as natural gas combined with cycle plants and combustion turbines to ensure consistency. StoreFAST can assess generation plants by allowing benchmarking between flexible power generation and energy storage.
Email registration is required to download the StoreFAST Excel spreadsheet.
How It Works
The StoreFAST model is pre-populated with sample energy storage and flexible power generators to illustrate how it generates comparative assessments. The model allows users to specify up to 15 parallel technology assessments that can span completely different storage types or focus on a single technology variant. For example, a user can perform a parallel assessment of current and future technology performance outlooks by specifying different outlooks for costs and performance in each technology slot.
The StoreFAST financial analysis methodology leverages the Hydrogen Financial Analysis Scenario Tool framework, allowing for control over model inputs and generating a range of financial performance metrics, such as investor payback period, net present value, and first-year break-even sales price of electricity. StoreFAST uses generally accepted accounting principles and provides complete financial assessments (income statement, cash flow, and balance sheet) and simple graphical and numerical outputs. The model allows full customization of financing details such as taxation and capital structure. It further enables the specification of the resale value of any nondepreciable assets such as real estate associated with some energy storage technologies (e.g., storage reservoirs and reusable geologic caverns).
A recent H2IQ Hour presentation provided an overview of how the StoreFast tool works.
Michael (Misho) Penev
Senior Analyst, Infrastructure and Energy Storage Analysismike.email@example.com