Business models for Energy Storage Systems
File(s)
Author(s)
Moreira, Roberto Marino Marques
Type
Thesis
Abstract
Recent commitments to reduce greenhouse gas emissions in the electricity industry associated with
the electrification of segments of heat and transport sectors pose significant challenges
of unprecedented proportions . The unique features of Energy Storage Systems (ESS)
coupled with the flexibility of providing services to multiple sectors of the electricity industry, make it a key technology to tackle current and upcoming challenges in the electricity industry.
Although ESS have the potential to support future system integration with large amounts of
renewable generation, the potential value that ESS brings to stakeholder s and its associated
economics are not well understood to date. In addition, further research is needed on its business
model in various markets and system conditions, in particular in the value associated with each
service or set of services.
In this context, the conducted research has addressed ESS operational aspects when considering
a multiple services portfolio provided to various stakeholders and sensitive to market and system
conditions. New ESS operational frameworks together with a computationally efficient modelling
framework are proposed for a better understanding of ESS business models.
The novelty introduced with this work is associated with a multiple service business model for
ESS which considers services to distribution network operators, system operators, low capacity
value generation and participation in the energy market. In addition, the economic aspects of ESS
considering various operating policies for maximum revenue is also investigated and enhances the
understanding of ESS to develop appropriate market mechanisms and allow efficient deployment
of ESS in the electricity industry.
the electrification of segments of heat and transport sectors pose significant challenges
of unprecedented proportions . The unique features of Energy Storage Systems (ESS)
coupled with the flexibility of providing services to multiple sectors of the electricity industry, make it a key technology to tackle current and upcoming challenges in the electricity industry.
Although ESS have the potential to support future system integration with large amounts of
renewable generation, the potential value that ESS brings to stakeholder s and its associated
economics are not well understood to date. In addition, further research is needed on its business
model in various markets and system conditions, in particular in the value associated with each
service or set of services.
In this context, the conducted research has addressed ESS operational aspects when considering
a multiple services portfolio provided to various stakeholders and sensitive to market and system
conditions. New ESS operational frameworks together with a computationally efficient modelling
framework are proposed for a better understanding of ESS business models.
The novelty introduced with this work is associated with a multiple service business model for
ESS which considers services to distribution network operators, system operators, low capacity
value generation and participation in the energy market. In addition, the economic aspects of ESS
considering various operating policies for maximum revenue is also investigated and enhances the
understanding of ESS to develop appropriate market mechanisms and allow efficient deployment
of ESS in the electricity industry.
Version
Open Access
Date Issued
2015-10
Date Awarded
2016-02
Copyright Statement
Attribution NoDerivatives 4.0 International Licence (CC BY-ND)
Advisor
Strbac, Goran
Sponsor
Engineering and Physical Sciences Research Council
Publisher Department
Electrical and Electronic Engineering
Publisher Institution
Imperial College London
Qualification Level
Doctoral
Qualification Name
Doctor of Philosophy (PhD)