Business models analysis for micro compressed air energy storage considering the comprehensive cost in its life-cycle

Micro compressed air energy storage (M-CAES) has the characteristics of pollution-free, high comprehensive utilization of energy, and the ability of combined cooling, heating, and electrical power, which can better meet the energy application in many areas. Considering that the business models restrict the development of M-CAES, business models analysis for M-CAES considering the comprehensive cost in its life-cycle is studied. Firstly, this paper analyzes possible investment models of M-CAES projects with multiple market participants, and then the business models of the M-CAES system are designed. Secondly, a scheme of life-cycle cost/benefit assessment is proposed for M-CAES investment, including the construction cost and the operation cost of the M-CAES. Finally, the economic benefits of different business models are analyzed by the 1MWh M-CAES. The results show that they can provide theoretical reference and engineering instruction for the research and engineering application of M-CAES.