An expert new report published today aims to decode complex market opportunities for UK energy storage and explain what is needed to drive cost-effective investment. The report from Everoze – a commercial energy consultancy – makes a series of far-reaching recommendations to level the playing field for rapidly developing energy storage technologies – some of which are locked out of current market arrangements. And it tackles head-on the primary risk holding back the roll-out of energy storage: securing a bankable revenue stream. The report adds: “The three major issues of low bankability, lost potential and revenue interface risk are common across the whole UK. A Scottish Renewables spokesman added: “A whole series of changes are needed if we are to ensure that the cheapest and most efficient technologies provide the services that a modern clean electricity system requires. “While batteries today are 94% cheaper than they were in 1990, and a range of pumped storage projects are ‘shovel-ready’ or in the planning process, the current market arrangements are at risk of favouring more expensive sources of flexibility for our network.”
Scottish Energy News 14th July 2016 read more »
Dozens of companies are set to submit bids this week for one of the world’s biggest energy storage projects, supplying back-up power for the National Grid. More than 60 companies have expressed interest in the colossal energy storage scheme to provide 200 megawatts of back-up electricity, mainly using industrial-scale battery arrays. That is roughly equivalent to the power produced by more than a million iPhone-sized lithium-ion batteries, according to AES, an American company that is among the bidders. Japanese, British and European groups are also involved. The contract from National Grid, for which preliminary bids are due tomorrow, is one of the biggest energy storage contracts of its kind in the world. It is viewed as an urgent priority after the shutdown of a string of coal-fired power stations and Britain’s growing reliance on volatile wind and solar power. Renewables supplied 25 per cent of electricity last year.
Times 14th July 2016 read more »