IEEE Power & Energy Magazine - September/October 2017 - 69

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the business model under which it is developed. A storage
facility sited behind the meter, for example, can lead to a
lower electricity bill for a given retail consumer due to the
possibility of managing net consumption patterns under
dynamic tariffs or decreasing peak demand payments; however, while doing so, it also provides value to the electricity system via temporal energy arbitrage, contribution to
capacity adequacy, and eventual deferral of transmission
and distribution network capacity investments. The allocation of the value of storage among market participants, in
contrast, does depend on the business model under which
the storage facility is developed, as well as on the applicable
regulatory framework. A similar rationale applies to storage
facilities  deployed as standalone resources or "behind the
september/october 2017

meter" of generation plants, which are of particular interest
in this article.
The large reservoirs associated with hydropower plants
have historically represented the storage technology in countries like Brazil and Chile, delivering temporal energy arbitrage, capacity adequacy, and ancillary services at low operational and opportunity costs. However, the low incremental
costs of providing these services have also historically represented a barrier for the development of other, competing
storage technologies. As we discuss later in this article, the
situation is now starting to evolve in Brazil and Chile, due
to factors ranging from changing patterns of hydro inflows
to the increasing participation of renewable generation technologies, such as wind and solar power, with significant
ieee power & energy magazine

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Table of Contents for the Digital Edition of IEEE Power & Energy Magazine - September/October 2017

IEEE Power & Energy Magazine - September/October 2017 - Cover1
IEEE Power & Energy Magazine - September/October 2017 - Cover2
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IEEE Power & Energy Magazine - September/October 2017 - Cover3
IEEE Power & Energy Magazine - September/October 2017 - Cover4
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