Posted on: 19/07/2016
Rapidly-developing energy storage technology is locked out of current market arrangements and needs a level playing field, according to a new report.
Trade body Scottish Renewables commissioned Everoze, RES and the University of Strathclyde’s Power Networks Demonstration Centre to carry out the research.
Jenny Hogan, Director of Policy at Scottish Renewables, said: “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.
“These range from ensuring that service contracts are procured in a way that supports investment in low-cost technologies, through to encouraging aggregators to ensure that people already deploying in storage in their homes are able to realise the full benefits it can bring.”
£2.4bn of savings
In March, the Carbon Trust estimated that storing more energy could save the UK £2.4 billion a year.
Felicity Jones, Partner at Everoze, added: “Continued reduction in the capital cost of storage is needed – but the bigger challenge lies elsewhere.
“Renewables developers eyeing up storage must flip their attention from cost to the other half of the profit formula: revenue.”
> Download the report