What are energy storage policies?

These policies are mostly concentrated around battery storage system, which is considered to be the fastest growing energy storage technology due to its efficiency, flexibility and rapidly decreasing cost. ESS policies are primarily found in regions with highly developed economies, that have advanced knowledge and expertise in the sector.

Why do we need energy storage systems?

The need to reduce greenhouse gas emissions has catalysed the rapid growth of renewable energy worldwide. However, the intermittent nature of renewable energy requires the support of energy storage systems (ESS) to provide ancillary services and save excess energy for use at a later time.

What is the impact of energy storage system policy?

Impact of energy storage system policy ESS policies are the reason storage technologies are developing and being utilised at a very high rate. Storage technologies are now moving in parallel with renewable energy technology in terms of development as they support each other.

Should Energy Storage Co-deployment be a province-specific strategy?

However, the use of frequency regulation revenue can make energy costs lower in most provinces when renewable energy is deployed alongside energy storage systems. The findings show that province-specific policies would be the best strategy for energy storage co-deployment.

What are energy storage policy tools?

In general, policies are designed to establish boundaries and provide regulatory guidelines. According to the Energy Storage Association (ESA), the policy tools fall under three categories which are value, access and competition .

What is the best strategy for Energy Storage Co-deployment?

The findings show that province-specific policies would be the best strategy for energy storage co-deployment. “To foster the development of energy storage, it is important to define energy storage as an independent market player and improve market mechanisms,” Yuan said.