Storage has to multi-task to earn its keep
Special report - Electricity Storage part 3/5: By relieving grid bottlenecks of surplus supply and providing bursts of power when needed, storage can add sufficient value to find routes to profitability, but they are limited
A market structure that allows storage facilities to meet multiple requirements raises the value of stored electricity to system operators, a value recognised in multiple streams of revenue. When a storage facility has the opportunity to multi-task, the “revenue stacking” that follows mitigates against the inherent economic disadvantage that storage labours under. ...
Try FORESIGHT - 30 days for €29
Related articles
The not so essential role of electricity storage
Is electricity storage essential? Belief is a dangerous foundation for decision-making and beliefs about storage risk major investment errors
What storage is for and what it cannot do
Special report - Electricity Storage part 2/5: Filling in for wind and solar over days of calm and cloudy weather is not a task storage can perform, even if it was a power system requirement
No sign of a silver storage bullet
Special report - Electricity Storage part 4/5: No means of affordably storing large volumes of electricity in all geographies exists, but a robust grid, connected over a wide area, can deliver green energy reliability
Grid scale storage not essential but nice to have
Special report - Electricity Storage part 5/5: The uptake of renewable energy does not increase the need for storage capacity, but stored power can help grid operators flexibly operate power systems, provided it can pay its way
Key takeaways at a glance
Essential knowledge and key indicators of the prospects for grid scale electricity storage technologies
Giant scale battery showcases
The biggest battery bank experiments are in California and Australia
The grid is a giant battery
Grid operators need incentives to use the grid as a large scale battery
Green tech must engage with big business
Former EU Commissioner for Climate Action and Denmark’s first minister for climate and energy, Connie Hedegaard, in conversation with FORESIGHT