IEEE Power & Energy Magazine - September/October 2017 - 41

Energy storage can deliver carbon savings through
improved operational efficiency of conventional plants
and enhanced use of low-carbon generation.

No
S1 £70.0 Million
Investment

No
Investment

No
S2 £70.0 Million
Investment

Build Line
No
Investment

No
S3 £70.0 Million
Investment
No
S4 £70.0 Million
Investment

(a)
No
S1 £86.3 Million
Investment

Build ES
Build Line

No
S2 £86.3 Million
Investment

No
Investment
No
Investment

Build ES S3 £71.3 Million
Build Line
No
S4 £0.0 Million
Investment

(b)

figure 13. The optimal investment strategy under uncertainty
(a) limited to new lines and (b) considering ES investments.

Looking Forward
The cost-effective evolution toward low-carbon electricity
supply will require improved system flexibility to address
the challenges of increased balancing requirements and degradation in asset utilization. As we have shown here, the additional flexibility offered by ES could significantly reduce
the requirement for low-carbon capacity.
Cost-efficient deployment of new ES in the United Kingdom in 2030 can reach up to 19 GW, depending on the cost
of ES. However, DSR represents a key flexible competitor
that could limit the business case for ES.
In an actual market environment, ES has the potential to
provide a range of system services, such as energy arbitrage,
balancing, network management, and capacity market adaptability. Moreover, ES presents significant option value, as it
can provide flexibility to deal with uncertainty in future system
development and be a key contributor to firm capacity during
critical peak hours. However, present market and regulatory
barriers may prevent the realization of the quantified system
value and thus weaken the business case for ES. Developing
fully cost-reflective markets and effective regulatory frameworks is therefore necessary to ensure that the commercial
september/october 2017	

incentives for investing and operating ES are aligned with the
societal benefits. To unlock the full potential of ES, establishing a level playing field is fundamental to incorporating ES in
network planning standards and market frameworks.

For Further Reading
Carbon Trust and Imperial College. (2016). Can storage help
-reduce the cost of a future U.K, electricity system? [Online].
Available: https://www.carbontrust.com/media/672486/energystorage-report.pdf
S. Bradbury, A Laguna, and P. Papadopolos. (2016). Smarter Network Storage: Final evaluation of the Smarter Network
Storage Solution. [Online]. Available: http://innovation
.u k powernetworks.co.uk/innovation/en/Projects/tier-2projects/Smarter-Network-Storage-%28SNS%29/ProjectDocuments/SNS+UKPN+Report+9.8+05Jan.pdf
F. Teng and G. Strbac, "Business cases for energy storage
with multiple service provision," J. Modern Power Syst. Clean
Energy, vol. 4, no. 4, pp. 615-625, 2016.
R. Moreno, R. Moreira, and G. Strbac, "A MILP model for
optimising multi-service portfolios of distributed energy storage," Appl. Energy, vol. 137, pp. 54-566, Jan. 1, 2015.
D. Pudjianto, M. Aunedi, P. Djapic, and G. Strbac, "Wholesystems assessment of the value of energy storage in low-carbon electricity systems," IEEE Trans. Smart Grid, vol. 5, no. 2,
pp. 1098-1109, 2014.
I. Konstantelos and G. Strbac, "Valuation of f lexible
-investment options under uncertainty" IEEE Trans. Power
Syst., vol. 30, no. 2, pp. 1047-1055, 2015.

Biographies
Goran Strbac is with Imperial College London, United Kingdom.
Marko Aunedi is with Imperial College London, United
Kingdom.
Ioannis Konstantelos is with Imperial College London,
United Kingdom.
Roberto Moreira is with Imperial College London, United Kingdom.
Fei Teng is with Imperial College London, United Kingdom.
Rodrigo Moreno is with Imperial College London, United Kingdom.
Danny Pudjianto is with Imperial College London, United Kingdom.
Adriana Laguna is with UK Power Networks, United Kingdom.
Panagiotis Papadopoulos is with UK Power Networks,
United Kingdom.
p&e

ieee power & energy magazine 	

41


https://www.carbontrust.com/media/672486/energy http://innovation http://ukpowernetworks.co.uk/innovation/en/Projects/tier-2

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