Citation

BibTex format

@inproceedings{Fong:2017:10.1109/PTC.2017.7980829,
author = {Fong, G and Moreira, R and Strbac, G},
doi = {10.1109/PTC.2017.7980829},
publisher = {IEEE},
title = {Economic analysis of energy storage business models},
url = {http://dx.doi.org/10.1109/PTC.2017.7980829},
year = {2017}
}

RIS format (EndNote, RefMan)

TY  - CPAPER
AB - The increasingpenetration of renewable energy systems andtheelectrification of heat and transport sectors inthe UKhave created business opportunities for flexible technologies, such as battery energy storage (BES). However,BESinvestments arestill not well understood due to a wide range and debatable technology costs that may undermine itsbusiness case. In this context, aneconomic analysis will be established to assess the economic viability ofcurrent BESbusiness models, particularly associated with multiple service portfolios. Our model quantifies the net present values (NPVs) and payback periods of BES investments considering various business models and state-of-the-art BES technologies. We determine thecommercial viability associated with different BES technologies and business models. The developed model comparesdifferent technology costs, business models(i.e. portfolio ofservicesprovided)and BES lifetimes to perform a comprehensive economic analysis on the business case for investing in BES. Several case studies under current GBmarket arrangements demonstrate that BES investment associated with multi-service business modelsoffers the best financial benefits to storage investors and achieve payback periods within 10 years’ lifetime.
AU - Fong,G
AU - Moreira,R
AU - Strbac,G
DO - 10.1109/PTC.2017.7980829
PB - IEEE
PY - 2017///
TI - Economic analysis of energy storage business models
UR - http://dx.doi.org/10.1109/PTC.2017.7980829
UR - http://hdl.handle.net/10044/1/47987
ER -