The article Evaluating economic feasibility of liquid air energy storage systems in US and European markets (click here for free access until July 2, 2024) presents a general mixed-integer linear programming framework for evaluating the long-term economic performance of liquid air energy storage systems in various US and European electricity markets.

Liquid air energy storage is a clean and scalale long-duration energy storage technology capable of delivering multiple gigawatt-hours of storage. The inherent locatability of this technology unlocks nearly universal siting opportunities for grid-scale storage, which were previously unavailable with traditional technologies such as pumped hydro energy storage and compressed air energy storage. In this work, the design and operation of liquid air energy storage systems were simultaneously optimized to maximize their net present value and obtain a yes/no indication of their economic viability. Using this approach, the economic viability of this technology was established for the West load zone of Texas through identification of a system with an optimal net present value of $10.4 million and a levelized cost of storage of $119/MWh. Sensitivity analyses were also performed to elucidate how improved technical performance and economic incentives might affect the economic feasibility and, consequently, the adoption of this technology more broadly in the future.