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The Value of Storage in Electricity Generation: A Qualitative and Quantitative Review

Author

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  • Amro Elshurafa

    (King Abdullah Petroleum Studies and Research Center)

Abstract

Electricity storage technology has many useful applications in the energy sector and can complement variable renewable power generation to achieve a low-carbon future. For policymakers, utilities, and investors, effective decisions in this context require an understanding of how to determine the monetary value of storage.

Suggested Citation

  • Amro Elshurafa, 2020. "The Value of Storage in Electricity Generation: A Qualitative and Quantitative Review," Discussion Papers ks--2020-dp23, King Abdullah Petroleum Studies and Research Center.
    • Handle: RePEc:prc:dpaper:ks--2020-dp23
    DOI: 10.30573/KS--2020-DP23
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    File URL: https://www.kapsarc.org/research/publications/the-value-of-storage-in-electricity-generation-a-qualitative-and-quantitative-review/
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    Citations

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    Cited by:

    1. Giarola, Sara & Molar-Cruz, Anahi & Vaillancourt, Kathleen & Bahn, Olivier & Sarmiento, Luis & Hawkes, Adam & Brown, Maxwell, 2021. "The role of energy storage in the uptake of renewable energy: A model comparison approach," Energy Policy, Elsevier, vol. 151(C).
    2. Giacomo Talluri & Gabriele Maria Lozito & Francesco Grasso & Carlos Iturrino Garcia & Antonio Luchetta, 2021. "Optimal Battery Energy Storage System Scheduling within Renewable Energy Communities," Energies, MDPI, vol. 14(24), pages 1-23, December.
    3. Karakoyun, Ece Cigdem & Avci, Harun & Kocaman, Ayse Selin & Nadar, Emre, 2023. "Deviations from commitments: Markov decision process formulations for the role of energy storage," International Journal of Production Economics, Elsevier, vol. 255(C).
    4. Farhad Billimoria & Paul Simshauser, 2023. "Contract design for storage in hybrid electricity markets," Working Papers EPRG2304, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    5. Gergo Barta & Benedek Pasztor & Venkat Prava, 2021. "Optimized Charge Controller Schedule in Hybrid Solar-Battery Farms for Peak Load Reduction," Energies, MDPI, vol. 14(22), pages 1-18, November.
    6. Varela Soares, Ian & Mauger, Romain & Santos, Thauan, 2023. "Considerations for benefit stacking policies in the EU electricity storage market," Energy Policy, Elsevier, vol. 172(C).
    7. Kuttner, Leopold, 2022. "Integrated scheduling and bidding of power and reserve of energy resource aggregators with storage plants," Applied Energy, Elsevier, vol. 321(C).
    8. Liu, Zhan & Yang, Xuqing & Liu, Xu & Wang, Wenbin & Yang, Xiaohu, 2021. "Evaluation of a trigeneration system based on adiabatic compressed air energy storage and absorption heat pump: Thermodynamic analysis," Applied Energy, Elsevier, vol. 300(C).
    9. Lynch, Muireann & Longoria, Genaro & Curtis, John, 2021. "Market design options for electricity markets with high variable renewable generation," Utilities Policy, Elsevier, vol. 73(C).

    More about this item

    Keywords

    Electricity generation; Power sector; Storage; Electricity sector;
    All these keywords.

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