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Business cases for energy storage with multiple service provision

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Title: Business cases for energy storage with multiple service provision
Authors: Teng, F
Strbac, G
Item Type: Journal Article
Abstract: 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 kilowatt-scale 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.
Issue Date: 18-Oct-2016
Date of Acceptance: 22-Sep-2016
URI: http://hdl.handle.net/10044/1/41867
DOI: https://dx.doi.org/10.1007/s40565-016-0244-1
ISSN: 2196-5625
Publisher: Springer
Start Page: 615
End Page: 625
Journal / Book Title: Journal of Modern Power Systems and Clean Energy
Volume: 4
Issue: 4
Copyright Statement: © The Author(s) 2016. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Sponsor/Funder: Engineering & Physical Science Research Council (EPSRC)
Engineering & Physical Science Research Council (EPSRC)
Engineering & Physical Science Research Council (E
Funder's Grant Number: EP/K002252/1
EP/L014386/1
EEZ1419554
Keywords: Science & Technology
Technology
Engineering, Electrical & Electronic
Engineering
Energy storage
Wind generation
Business case
Electricity market
Multiple service provision
ELECTRICITY STORAGE
WIND
REVENUE
SYSTEM
POWER
Publication Status: Published
Open Access location: http://link.springer.com/article/10.1007/s40565-016-0244-1?wt_mc=Internal.Event.1.SEM.ArticleAuthorOnlineFirst
Appears in Collections:Faculty of Engineering
Electrical and Electronic Engineering
Centre for Environmental Policy
Faculty of Natural Sciences



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