With a project pipeline in excess of 14GW, a developing regulatory envelope and maturing revenue streams, the UK’s energy storage sector continues to be at the forefront globally. Molly Lempriere charts the market’s development to date and uncovers how it has responded to deployment barriers.
Gore Street Energy Storage Fund, a publicly listed energy storage investment funds in the UK, is entering its portfolio into the Dynamic Containment grid services market while it has 100MW of projects in Northern Ireland nearing completion.
The battery storage market in the UK has become a viable investment opportunity in just the past few months, even without the backing of long-term contracts for grid services, according to an investment manager in the renewable energy sector.
Energy market mechanisms must evolve in order to support long-duration energy storage, with the existing frameworks having “significant problems” incentivising those technologies, a panel of experts has concluded.
National Grid ESO, the electricity system operator tasked with keeping the lights on in the UK, is looking to enable multiple application stacking for providers of a new frequency response service that also participate in the national Balancing Mechanism.