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Investment in energy storage vital [View all]
https://www.uea.ac.uk/about/-/investment-in-energy-storage-vital-if-renewables-to-achieve-full-potential[font face=Serif][font size=5]Investment in energy storage vital[/font]
[font size=4]Government subsidies should be used to encourage investment in energy storage systems if renewable power is to be fully integrated into the sector, according to researchers at the University of East Anglia.[/font]
[font size=3]…
However, the researchers argue that as the amount of renewable energy entering national power grids increases, so does the potential impact of volatility and therefore the need for storage. As subsidies for setting up renewable energy projects are gradually being removed, because they are reaching market maturity, these funds should instead be used to develop storage systems that could provide viable investment opportunities.
The study, led by Dr Dimitris Zafirakis and Dr Konstantinos Chalvatzis of UEA’s Norwich Business School, explored the potential of energy storage systems to return profits by buying when energy is cheap and selling when it is expensive, known as arbitrage. They tested this in a number of European electricity markets and matched various trading strategies and storage technologies with market characteristics.
The researchers found that this buy cheap, sell expensive approach alone cannot provide adequate revenue to justify investment. However, if the decarbonisation of electricity is to be achieved by increasing renewables, investment in storage has to be encouraged, for example through a combination of arbitrage and state subsidies. The findings are published today in the journal Applied Energy.
Dr Chalvatzis, a senior lecturer in business and climate change, said: “It is good to adjust subsidies for renewable energy technologies that have reached maturity, but you have to start thinking about subsidising storage, as this can take us to using 100 per cent renewable energy sources.
…
27/05/16[/font][/font]
[font size=4]Government subsidies should be used to encourage investment in energy storage systems if renewable power is to be fully integrated into the sector, according to researchers at the University of East Anglia.[/font]
[font size=3]…
However, the researchers argue that as the amount of renewable energy entering national power grids increases, so does the potential impact of volatility and therefore the need for storage. As subsidies for setting up renewable energy projects are gradually being removed, because they are reaching market maturity, these funds should instead be used to develop storage systems that could provide viable investment opportunities.
The study, led by Dr Dimitris Zafirakis and Dr Konstantinos Chalvatzis of UEA’s Norwich Business School, explored the potential of energy storage systems to return profits by buying when energy is cheap and selling when it is expensive, known as arbitrage. They tested this in a number of European electricity markets and matched various trading strategies and storage technologies with market characteristics.
The researchers found that this buy cheap, sell expensive approach alone cannot provide adequate revenue to justify investment. However, if the decarbonisation of electricity is to be achieved by increasing renewables, investment in storage has to be encouraged, for example through a combination of arbitrage and state subsidies. The findings are published today in the journal Applied Energy.
Dr Chalvatzis, a senior lecturer in business and climate change, said: “It is good to adjust subsidies for renewable energy technologies that have reached maturity, but you have to start thinking about subsidising storage, as this can take us to using 100 per cent renewable energy sources.
…
27/05/16[/font][/font]
1 replies
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