The characteristics of electricity storage, renewables and markets

Michael Waterson

Energy Policy, 2017, vol. 104, issue C, 466-473

Abstract: This paper accepts the widespread view that as electricity generation systems transition towards a greater proportion of renewables provision, there will be an increasing need for storage facilities. However, it differs from most such studies in contrasting the private incentives of a storage operator with the public desirability of bulk storage. A key factor in the context of a market such as Britain, where renewable energy largely means wind generation, is the nature of wind generation itself. The problem of wind's high variance and intermittent nature is explored. It is argued that not only is there a missing money and a missing market issue in providing secure energy supplies, there is also a missing informational issue. A key opportunity for new storage is participation in a capacity market, if the setting is right.

Keywords: Electricity storage; Inter-temporal arbitrage; Renewable generation; Capacity auctions (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:104:y:2017:i:c:p:466-473

DOI: 10.1016/j.enpol.2017.01.025

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