Pictured: Pumped hydro at Cruachan dam and upper reservoir. Image: Drax Published this week, the Department for Business, Energy and Industrial Strategy’s (BEIS) latest response paper summarises views collected as part of its consultation on scaling long-duration, large-scale energy storage. Energy storage is regarded as key to the energy transition, as it helps maintain energy security as more intermittent renewable generation comes online and as electricity demand increases. It also limits the need for expensive upgrades to the network.
But BEIS claims that long-duration, large-capacity storage (LLES) still “faces significant barriers to deployment under the current market framework due to their high upfront costs and a lack of forecastable revenue streams”. It, therefore, sought to assess ways of bringing costs down and creating mechanisms to…
Government touts overhaul of energy storage policy by 2024
