The Bloomberg New Energy Finance study finds that rapid falls in the price of technology and appropriate regulatory support could create a significant opportunity for the use of storage in the electricity network.
Excellent news for all renewable energy fans.
Another extract from the press release:
“The study says that while niche markets for energy storage are already viable in the UK today, mainly to relieve bottlenecks in the transmission and distribution of power, more substantial penetration of energy storage within the grid system will become economic within the next five years. However, the report also points out that the key to the successful roll‐out of energy storage within the UK electricity system in the next few years will be putting in place an appropriate regulatory framework ‐ something
that has not yet been achieved”.