Posted on: 08/03/2016
Overcoming regulatory hurdles for energy storage could save the UK £7 billion a year, according to a report by the Carbon Trust.
Andrew Lever, Director of Innovation at the Carbon Trust, said: “Storage turns conventional knowledge on its head as it doesn’t fit neatly into existing regulatory frameworks, which have been designed around an energy system where power is supplied to consumers from large centralised power stations.
“We have now reached a stage where the technologies are looking promising, but will face challenges in deployment due to an outdated market framework.
“An urgent rethink is needed so we can address and overcome the broken value chain of energy storage, which is essential if Britain is to provide low carbon energy at the lowest cost to the consumer.”
£50 saved per consumer
Using the National Grid’s “Gone Green” scenario, the report estimates that up to £2.4bn a year could be saved by 2030.
Passing on half of this saving to consumers would trim £50 a year off the average bill.
The report was compiled by the Carbon Trust and Imperial College London and funded by E.ON, SSE, Scottish Power, the Scottish Government and the Department of Energy & Climate Change.