The Australian Renewable Energy Agency (ARENA) has announced $495,000 in funding for a university study of the integration of storage into energy markets with an aim to design efficient incentives for storage operators to enable clearer investment signals for storage.
The funding to the Grid Innovation Hub at the Monash Energy Institute at Monash University will fund a desktop study to explore alternative market designs that could better support energy storage technologies.
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 study – to cost a total of $1.18 million – will inform policy makers and market participants, rather than to formulate prescriptive policy recommendations.Energy storage technologies are critical to…
Monash to explore energy storage market design
