The Economics of Emerging Energy Storage Applications

Energy storage has in recent years attracted considerable interest, mainly owing to its potential to support large-scale integration of renewable energy sources (RES). At the same time however, energy storage technologies are called to take over multiple roles across the entire electricity sector, introducing modern applications for both private actors and system operators. In this context, the current book focuses on the valuation of emerging energy storage applications while also proceeding to the design of novel dispatch strategies and the development of financial instruments and support measures for the market uptake of energy storage technologies. In doing so, emphasis is given on mature, bulk energy storage technologies able to support energy management applications. These include pumped hydro storage, compressed air energy storage and battery technologies. Energy storage applications are divided into three main categories that focus on private actors, autonomous electricity grids and utility-scale systems.