Business Models for Deploying and Operating Energy Storage and Risk Mitigation Aspects

Masiello, Ralph; Roberts, Brad; Sloan, Tom

doi:10.1109/jproc.2014.2326810

Cited by 34 publications

(11 citation statements)

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“…However, to actually estimate the value of ES in 2030 UK system, sensitivity studies with different system scenarios need to be carried out in the future. Furthermore, as discussed in [19], the present market and regulatory barriers may prevent the realization of the quantified profits which are sourced from multiple energy sectors. It is therefore important for the policy makers to act in order to align the commercial incentives in investing ES with the societal benefits covering multiple sectors [12] that ES may deliver.…”

Section: Resultsmentioning

confidence: 99%

Business cases for energy storage with multiple service provision

Teng

Štrbac

2016

J. Mod. Power Syst. Clean Energy

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Energy storage (ES) has been considered as the key source of flexibility to support the integration of renewable energy. Previous studies have demonstrated the substantial system cost savings by the deployment of ES, including both investment and operation of generation, transmission and distribution infrastructure. However, this societal benefit may not be realized if industry actors do not have a viable business case to appropriately capture these multiple value streams. In this context, this paper investigates the value that ES may deliver to its owner over two specific business cases in a 2030 UK system. Firstly, the application of large-scale ES in the wholesale market is analysed. It is demonstrated that the optimal allocation of ES to provide multiple services is the key element for ES to become competitive in the electricity market. In the second business case, this paper analyses the value of kilowattscale ES combined with roof photovoltaic (PV) system in the household and community level. The study shows that multiple service provision of ES through advanced pricing schemes, for example time-of-use (ToU) tariff and dynamic distribution use of system (DUoS), lead to higher value and the coordination in the community level could further justify the application of domestic ES.

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Section: Resultsmentioning

confidence: 99%

Business cases for energy storage with multiple service provision

Teng

Štrbac

2016

J. Mod. Power Syst. Clean Energy

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“…RegD's other favorable characteristic for battery storage is that it requires net zero energy over a 15-min time period [4], which reduces the amount of obligated reserved energy.…”

Section: B Performance-based Regulationmentioning

confidence: 99%

“…A battery must be able to maintain the fully-deployed output level for at least h (typically 1 h) for spinning reserve service and h reg (typically 15 min) for regulation service [4], considering the energy loss.…”

Section: ) Energy Constraintsmentioning

confidence: 99%