Investigation of Energy Storage Systems, Its Advantage and Requirement in Various Locations in Australia

Table 9

Technical data and study assumptions.

Description	Cost/information
PV array [31]
Capital cost	$3100.00/kW
Replacement cost	$3000.00/kW
Operation and maintenance costs	$50.00/year
Life time	25 years
Wind turbine [32]
Capital cost	$4000.00/kW
Replacement cost	$3000.00/kW
Operation and maintenance costs	$120.00/year
Life time	25 years
Grid electricity [33]
Off-peak rate; (09:00AM–06:00PM, 10:00PM–07:00AM)	$0.30/kWh
Peak rate; (07:00AM–09:00AM, 08:00PM–10:00PM)	$0.35/kWh
Super peak rate; (06:00PM–08:00PM)	$0.45/kWh
Inverter [34]
Capital cost	$400.00/kW
Replacement cost	$325.00/kW
Operation and maintenance costs	$25.00/year
Life time	15 years
Storage (battery) [35]
Capital cost	$170.00/6 V 360 Ah
Replacement cost	$130.00/6 V 360 Ah
System voltage	24 V