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The characteristics of electricity storage, renewables and markets
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Waterson, Michael (2017) The characteristics of electricity storage, renewables and markets. Energy Policy, 104 . pp. 466-473. doi:10.1016/j.enpol.2017.01.025 ISSN 0301-4215.
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Official URL: http://dx.doi.org/10.1016/j.enpol.2017.01.025
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.
Item Type: | Journal Article | ||||||||
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Subjects: | T Technology > TJ Mechanical engineering and machinery T Technology > TK Electrical engineering. Electronics Nuclear engineering |
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Divisions: | Faculty of Social Sciences > Economics | ||||||||
Library of Congress Subject Headings (LCSH): | Wind power industry -- Economic aspects -- Great Britain, Electric power distribution -- Great Britain | ||||||||
Journal or Publication Title: | Energy Policy | ||||||||
Publisher: | Elsevier Ltd. | ||||||||
ISSN: | 0301-4215 | ||||||||
Official Date: | May 2017 | ||||||||
Dates: |
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Volume: | 104 | ||||||||
Page Range: | pp. 466-473 | ||||||||
DOI: | 10.1016/j.enpol.2017.01.025 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 20 December 2017 | ||||||||
Date of first compliant Open Access: | 24 January 2018 | ||||||||
RIOXX Funder/Project Grant: |
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