It is estimated that 10GW of energy storage will be online by 2030. This figure demonstrates the important role energy storage will play in transforming the renewables sector. However before this potential can be realised action is needed to align the technology with market expectations and also to address some of the policy issues which are impacting deployment.
RegenSW's 'Energy storage – towards a commercial model' report, which was produced in partnership with TLT, Green Hedge and Triodos Bank looks at the positive role energy storage can play in modernizing the UK's energy system. It also outlines some of the challenges storage is facing in terms of cost and deployment and looks at how a business case can be made for storage.
The report looks at some of the underpinning legal and regulatory issues, which need to be addressed in order for storage to reach its full potential. The TLT team were able to provide this insight as they have extensive experience advising clients on a range of energy storage projects, both retro-fit and as part of more strategic grid orientated solutions, including the National Grid Enhanced Frequency Response, Firm Frequency Response and projects that utilise revenue 'stacking'.
Maria Connolly, head of Energy & Renewables and Real Estate, TLT, commented: "Energy storage presents a real opportunity for the renewables sector. There is a need to balance the grid and ensure electricity is available at the right time and cost, and the recent EFR tender has shown how much investment is being put into rapid response technology.
"In the short term we could see Behind the Meter (BtM) storage making a significant impact on the electricity grid. Large power users are starting to look at taking advantage of BtM and the revenue streams and cost savings available to them. Longer term, co-locating storage with other renewable technologies including wind or solar developments could be part of the solution which make projects of this nature commercially viable in a subsidy free environment."
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