New analysis of business cases for grid-scale energy storage highlight opportunities to maximise multiple revenue streams and optimise projects.
Adequate grid connections and grid-scale energy storage is needed to increase investor confidence and help Asia Pacific (APAC) to deliver reliable, affordable and clean energy. This is one of the findings from a new report which explores the opportunities, challenges that will impact the emergence of utility-scale, grid-connected energy storage systems (ESS) in the region.
The DNV report, ‘Energy Storage in the Asia Pacific Region’, reveals that although investors recognise the opportunities that the widespread deployment of variable renewable energy sources (VRES) will bring to APAC, many are concerned about being left with underperforming or stranded assets, because of inadequate storage solutions. Grid-connected energy storage systems can help to safeguard operations and the economics of intermittent generation from wind and solar.
The report finds that although Battery Energy Storage Systems (BESS) will become increasingly commercially viable through technological advances and cost-learning effects, regulation and government policies will ultimately prove decisive in whether commercial opportunities are available for energy storage to provide valuable services to grids.