Researchers Leonard Göke, Jan Wohland, Stefano Moret, and André Bardow, affiliated with RWTH Aachen University in Germany, have published a study that explores the potential of multi-year storage of liquid hydrocarbons to bolster energy security and manage climate-driven uncertainty in renewable energy generation and electricity demand.
The study introduces a scalable stochastic model that considers a vast range of climate scenarios, effectively accounting for 51,840 climate years. This model identifies multi-year storage of liquid hydrocarbons as a crucial strategy for mitigating climate uncertainty and ensuring energy security in net-zero energy systems. The researchers found that implementing multi-year storage in Europe could reduce system costs by 4.1%, decrease fossil fuel imports by 86%, and cut curtailment of renewable energy by 60%.
The key advantage of multi-year storage is its ability to convert excess renewable energy into synthetic oil, using hydrogen as an intermediate product, which can then be stored and used to balance energy deficits in subsequent years. The study estimates that the required energy capacity for liquid hydrocarbons is 525 TWh, which is about a quarter of the European Union’s current oil and gas reserves. Additionally, it requires 116 TWh of hydrogen storage capacity.
The researchers emphasize that this approach maintains a high level of security of supply, with unserved energy amounting to just 0.0035 per thousand, well below the commonly accepted target of 0.02 per thousand. This study highlights the practical applications of multi-year storage for the energy sector, particularly in enhancing energy security and integrating renewable energy sources more effectively.
The research was published in the journal Nature Communications.
This article is based on research available at arXiv.