Posted on: 15/08/2017
Policy and regulatory changes are needed to support the deployment of energy storage batteries, according to a new report.
Insurance firm Axis and the Renewables Consulting Group concluded that support for storage demonstration projects was required.
The report said policy support would help the integration of variable renewables to meet national alternative energy targets.
The UK was one of only five countries that the report identified as having implemented the necessary regulatory changes.
‘Exciting and transformative technology’
Richard Carroll, Senior Vice President and Global Head of Renewable Energy at Axis Insurance, said: “Battery storage is an exciting and transformative technology that can help the global economy better manage electricity production and storage.
“The international energy markets are anticipating a rapid expansion of the global battery storage sector.
“Applications need to be considered on a case-by-case basis to ensure technical and commercial risks are adequately considered and that a plan exists to manage those risks.”