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Intermittency and the social role of storage
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Giulietti, Monica, Trujillo-Baute, Elisa and Waterson, Michael (2022) Intermittency and the social role of storage. Energy Policy, 165 . 112947. doi:10.1016/j.enpol.2022.112947 ISSN 0301-4215.
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Official URL: https://doi.org/10.1016/j.enpol.2022.112947
Abstract
Our paper examines the social benefit of energy storage in terms of smoothing the intermittent output of wind in Britain in the context of a significant wind generation presence. The resultant price smoothing creates benefits as follows: grid scale storage has a price suppressing effect, decreasing the probability of remaining in the high price and high volatility regime during peak hours, and it increases the probability of remaining in the normal regime during off-peak hours. Under the assumption that the effects on market prices are passed through to final consumers, and ignoring the facility construction costs, our results strongly suggest that there are clear potential social advantages resulting from deploying grid-level storage in the presence of intermittent wind generation.
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, Wind energy conversion systems, Energy storage -- Social aspects, Electric power distribution -- Effect of wind power plants on | ||||||||
Journal or Publication Title: | Energy Policy | ||||||||
Publisher: | Elsevier Ltd. | ||||||||
ISSN: | 0301-4215 | ||||||||
Official Date: | June 2022 | ||||||||
Dates: |
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Volume: | 165 | ||||||||
Article Number: | 112947 | ||||||||
DOI: | 10.1016/j.enpol.2022.112947 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 7 April 2022 | ||||||||
Date of first compliant Open Access: | 8 April 2023 | ||||||||
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