Monash exploring energy storage market design

On behalf of the Australian Government, the Australian Renewable Energy Agency (ARENA) has today announced $495,000 in funding to the Grid Innovation Hub at the Monash Energy Institute, Monash University, to conduct a desktop study exploring the integration of storage into energy markets with an aim to design efficient incentives for storage operators to enable clearer investment signals for storage.Researchers at the Grid Innovation Hub will conduct the desktop study to explore alternative market designs that could better support energy storage technologies and to design efficient incentives for storage operators to create clearer investment signals for storage. This includes assessing how day-ahead markets combined with balancing markets, similar to parts of the US and European markets, could be more suitable for a market transitioning towards more bulk storage.The $1.18 million…

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