Techniques for assessing the value of energy storage in the transition to and operation of SmartGrids

Abstract

This paper will discuss the purpose and value of energy storage as a transitional technology towards SmartGrids, as well as its utilization within the future network operational arrangements. The paper will investigate assessment techniques of energy storage at a local, system and global level, with a focus on the ways that energy storage may be valued. The paper will analyse existing techniques that are used to evaluate factors which influence decisions on the value of storage, and indicate areas which require further development in order to enable effective deployment of energy storage on current and future grids.