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Electrical Energy Storage: A Great Business Ahead

  • Renu SharmaEmail author
  • Satish Choudhury
  • Bibekananda Jena
  • Sonali Goel
Conference paper
Part of the Lecture Notes in Networks and Systems book series (LNNS, volume 109)

Abstract

Energy storage is often considered being the holy grail of technologies to integrate wind and solar power. Storage has many value streams such as energy arbitrage, capacity, primary reserve or primary frequency response, secondary reserve or regulation, ramping reserve, firming and/or smoothening of various resources, spinning reserve, transmission conjunctions, and deferrals of transmission and distribution upgrades, voltage support, demand charge reduction, and bill reduction with time-of-use rates. Depending on who owns the storage system and the market, only some of these value streams may be monetizable. Yet as costs for some storage technologies such as batteries drop, and as solar and wind penetration levels increase, the commercial viability of new storage projects remains somewhat elusive, unless storage is mandated or subsidized. This paper delves into applications where storage can make economic sense and the market rules that can make or break a storage project.

Keywords

Photovoltaic Energy storage Ancillary services Integration Balancing Regulation 

Abbreviations

GW

Giga watt

MW

Mega watt

kW

Kilo watt

UPS

Uninterruptible power supply

LCOS

Levelized cost of storage

ISOs

Independent system operators

BESS

Battery energy storage system

VRF

Vanadium redox flow

PCS

Power control system

BMS

Battery management system

PER

Primary frequency response

AGC

Automatic generation control

FFR

Fast frequency response

PFR

Primary frequency response

BTW

Behind-the-meter

PV

Photovoltaic

MISO

Midcontinent independent system operator

CAISO

California Independent System Operator Corporation

BESS

Battery energy storage systems

RegD

Dynamic regulation signal

RegA

Traditional regulation signal 

FERC

Federal Energy Regulatory Commission

PHS

Pumped hydro storage

DOD

Depth of discharge

Notes

Acknowledgements

The assistance provided by the authorities of Siksha ‘O’ Anusandhan (Deemed to be University), Bhubaneswar are highly acknowledged.

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Copyright information

© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  • Renu Sharma
    • 1
    Email author
  • Satish Choudhury
    • 1
  • Bibekananda Jena
    • 1
  • Sonali Goel
    • 1
  1. 1.Department of Electrical EngineeringITER Siksha ‘O’ Anusandhan (Deemed to be University)BhubaneswarIndia

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