As part of a move towards a smarter and more flexible electricity UK electricity system, Ofgem, National Grid, and government are seeking to reduce market barriers and enable the integration of storage in electricity markets. Storage growth in the next five years will be driven by both technology progress and improving commercial attractiveness, including decreasing cost, the increasing demand for flexibility and the growth of distributed resources. To optimise asset returns, investors need to understand how to monetise multiple potential sources of revenues.
CRA’s document includes:
- An overview of the business models and revenue sources for storage, particularly for Lithium-ion batteries;
- A summary of the current status, potential market changes and attractiveness of some of the main revenue streams to batteries; and
- An estimate of the range of total revenues available to batteries from participation in the system services markets, capacity market and embedded benefits
For more information, click the link below.