The first-of-its-kind analysis of how solar+storage could benefit low-income communities, Resilience for Free: How Solar+Storage Could Protect Multifamily Affordable Housing from Power Outages at Little or No Net Cost, stresses the need to make vulnerable populations – including seniors, disabled people, and low-income families – more power resilient in the face of natural disasters.
Clean Energy Group will be hosting a webinar on this report on October 29th. Details on this free webinar are available here.
Resilience for Free is part of a multi-year effort for the Resilient Power Project, a joint project of Clean Energy Group and Meridian Institute.
About Clean Energy Group
Clean Energy Group is a leading national, nonprofit advocacy organization working on innovative technology, finance, and policy programs in the areas of clean energy and climate change. Clean Energy Group also manages the Clean Energy States Alliance, a coalition of state and municipal clean energy funds. Clean Energy Group’s Resilient Power Project is designed to help states and municipalities with program and policy information, analysis, financial tools, technical assistance, and best practices to speed the deployment of clean, resilient power systems in their communities. For more information, visit www.cleanegroup.org and www.resilient-power.org
Clean Energy Group report provides analysis of how energy storage is valued in U.S. electricity markets.
Montpelier, VT — Key issues surrounding the deployment of energy storage and its participation in U.S. electricity markets are examined in a new report by Clean Energy Group, Energy Storage and Electricity Markets: The value of storage to the power system and the importance of electricity markets in energy storage economics. The report analyzes electricity markets where structures have been implemented to compensate energy storage services adequately enough to encourage increased deployment. The report also details energy storage opportunities for cost savings in regions with high utility demand charges or that employ time-of-use rates, which encourage less consumption during peak periods. These and other potential value streams are discussed along with successes and limitations in existing markets.
From renewable generation smoothing to demand charge reduction, energy storage technologies have the capacity to benefit each segment of the power system. Energy storage, primarily in the form of batteries, can deliver value not just to utilities and grid operators but to commercial and residential consumers alike. Unfortunately, the full value of energy storage cannot be realized under current market conditions, which can make it a challenge to find financing for these systems. However, markets are beginning to emerge that provide viable revenue streams for battery storage and its unique attributes and benefits to the grid and to electricity customers.
“Not only can battery storage improve resiliency as a source of critical backup power, it can boost the economic resiliency of communities by reducing consumer utility bills and generating revenue by providing grid services,” said report author Seth Mullendore. “Though energy storage technologies are advancing at a rapid pace, the market mechanisms supporting them are still in their infancy. Until markets have been developed and properly structured to value energy storage services, the full beneficial impact of energy storage on the power system will remain unrealized.”
The full report is available on Clean Energy Group’s website here.
A free webinar focused on this report will be hosted by Clean Energy Group and the Clean Energy States Alliance on Thursday, August 27 from 12-1:30 pm Central Time to provide more detail on the report’s key findings. For more information and to register, please visit http://www.cesa.org/webinars/webinar-electricity-markets-and-the-economics-of-energy-storage/view/2015-08-27.