Comparative economic analysis between LTO and C-ion energy storage system for electric vehicles ultra-fast charger buffering application

Due to the growth of the electric vehicle (EV) market and the extension of EVs battery range, the demand for ultra-fast charging is expected to increase. However, ultra-fast charging causes extreme high peak load demand, going beyond the capabilities of current electric utility infrastructure in many location. A high power energy storage system has the ability to off-set such infrastructure power limitations. On top of providing the energy of an EV battery and peak load demands, the decisive metrics for such system are cost of ownership and longevity. The main contribution of this article is to update a previous developed approach to evaluate the economic plausibility of an energy storage system (ESS) solution for EVs ultra-fast charger buffering application. This approach considers the calendar and cycling aging of the energy storage system, the overall efficiency, OPEX, and CAPEX of the ultra-fast charger, but also the purchasing price of the grid electricity. Furthermore, this approach is used to compare the highest longevity lithium battery technology solution, named LTO, to a new super capacitor solution contender, named C-ion. The findings of this study show that both LTO and C-ion technology may represent a cheaper alternative than refueling a gasoline car.