Energy Storage Is Cost-Effective but Needs a Clear Market Signal
New system models are showing that energy storage is cost-effective when its full range of services and benefits are fairly accounted for. The reason for this is that energy storage can deliver multiple services from one resource (e.g., reducing peak demand and providing frequency regulation). It is also recognized as a necessary part of the grid of the future: with more intermittent renewables, increasingly scarce and expensive fossil fuels, and system goals including emissions reductions and greater efficiency, energy storage is needed system-wide.
Energy storage will help bring more renewable energy resources on-line, reduce pollution, increase system efficiency and reliability, and decrease costs for ratepayers. Because any new energy storage added to the system must be cost-effective by law, everybody wins. For this reason, we applaud Commissioner Peterman’s vision — and encourage all stakeholders to consider her proposed target as a floor, rather than a ceiling.
If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.
