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Monetizing Energy Storage
Oliver Schmidt and Iain Staffell
2023
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Energy systems around the world have started going through rapid and profound transformations. Electric vehicles are breaking into the mainstream, and millions of wind and solar farms are replacing fossil fuel power plants, but both developments create fundamental challenges for the security of electricity supply. Energy storage could resolve these and drive deep decarbonization at lower cost. As a result, the storage industry is projected to grow to hundreds of times its current size in the coming decades. Businesses, policy-makers, and academics need to assess the economic case for energy storage and the future roles it will play. This is complicated by rapidly falling investment costs, the wide range of technologies, and the vast array of use cases for energy storage. The authors introduce a comprehensive toolkit required for assessing how the benefits of energy storage stack up against its costs. They give sharp insights on future prices, lifetime costs, technology competitiveness, profitability, and market size based on this toolkit. These are complemented by clear and transparent explanations of the underlying datasets and methods. Worked examples using an easy-to-access online tool further empower readers to conduct their own assessments with custom data. Various frequently asked questions provide real-world examples and bust some of the most prevalent myths on energy storage. This book is aimed at both decision-makers that require key insights into the energy storage business and practitioners that want to perform their own analyses on the current and future cost and value of energy storage.
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Keywords
- batteries
- economic assessment
- Energy Storage
- Future costs
- Future value
- Profitability
- Revenue
- System value
- thema EDItEUR::U Computing and Information Technology::UB Information technology: general topics
Links
DOI: 10.1093/oso/9780192888174.001.0001Editions