Domestic and grid-scale energy storage projects in the UK are already economically viable in certain circumstance as technology costs continue to fall, a new report from KPMG has found. The report, commissioned by the Renewable Energy Association (REA), claims that energy storage has fast-become a valuable asset in the transition to a decentralised, low carbon energy system. Substantial reductions in the cost of storage technologies have brought forward the anticipated timeframe for their deployment, the report points out. It finds that grid-scale projects, such as those recently announced by RES or completed by AES are already economic, but facing significant regulatory issues, including short contract lengths for balancing services and ‘discriminatory’ charges’ for grid connection. These could be relatively easily solved by more effective Government regulation, the report says. The research also found that energy storage can already be economic for domestic homes with solar PV panels installed and Feed-in Tarriff subsidies.
Edie 20th Jan 2016 read more »
Business Green 20th Jan 2016 read more »
The Renewable Energy Association has published a new report that concludes that 2016 is going to be the breakthrough year for energy storage and the growth of decentralised energy in the UK. Despite a total of 13 ‘sudden and severe’ changes to the Government’s green energy policies since the 2015 general election – which have created significant uncertainty in the UK renewables industry – a new independent report by KPMG for the REA says that ‘we could enter an era of continued green growth and domestic decentralised energy production’. The report Development of decentralised energy and storage systems in the UK – details that energy storage is a valuable and previously missing component in the movement towards a decentralised, consumer focused and low carbon energy system.
Scottish Energy News 21st Jan 2016 read more »
Energy storage costs will fall by up to 70 per cent by 2030, a new report has predicted. Current batteries are too expensive for large scale use but new battery technology and technical advances in areas such as composite materials will result in energy storage systems able to replace some plants and avoid the need for new ones, as well as reduce demand for oil, according to the report by the World Energy Council. The report argues the current focus on the cost of storage ignores the system value of stored energy. It calls for the value of storage to be recognised, taking into account the benefits as well as the costs. World Economic Council secretary general Christoph Frei said: “Energy storage is a critical catalyst of the energy transition whose benefits are still undervalued.
Utility Week 20th Jan 2016 read more »
Power storage technologies are often touted as the Holy Grail for delivering the clean energy system required if the UK is to truly decarbonise its economy. But they are not, perhaps, something you’d think of putting in your home. However, home energy storage provider Powervault is now showing how a small investment by British householders can both save on their electricity bills and help to alleviate demand on overburdened grids. The idea is simple: energy generated by rooftop solar panels charges up Powervault’s batteries during the day, before being slowly released in the evening, knocking a sizeable chunk off the amount of energy imported from the grid. “It basically reduces your electricity bill, because it allows you to use more of the energy that you generate from your solar PV panels,” Joe Warren, managing director of Powervault, tells BusinessGreen.
Business Green 15th Jan 2016 read more »