CREATING VALUE WITH BEHIND-THE-METER STORAGE
- Oct 23, 2020 3:01 pm GMT
This item is part of the Distributed Energy Resources - Fall 2020 SPECIAL ISSUE, click here for more
With the number of both site level and grid level use cases for energy storage (ES) and the associated potential value streams increasing – while at the same time costs for ES systems continue to drop, we can start to understand the basis for high ES deployment growth rates. There are a variety of energy storage solution types currently in use – hydro, thermal, inertial – but chemical, what’s commonly referred to as battery energy storage and more specifically lithium ion battery storage, is currently driving the intensifying energy storage adoption curve.
These battery assets offer an attractive mix of operational flexibility, responsiveness, energy density, and rapidly decreasing costs. Flexibility is key: a battery energy management system’s flexibility and its ability to generate a combination of revenues and/or cost avoidance of value streams allow battery storage projects to become economically viable in an increasing number of situations, energy markets, and geographies.
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