Yeah, negative prices finally incentivize storage technologies such as battery storage.
How does it incentivize it?
The problem with energy storage isn't a lack of incentives, it's a lack of solutions. There are currently no proven, grid scale, economical, and robust energy storage solutions.
There are lots of storage solutions that work within limited geographical areas (ie. Pumped hydro). But past that it's a crap shoot.
Batteries are absolutely nowhere near the capacity or longevity needed for grid scale storage.
The largest battery storage system in the world is primarily used for grid leveling and emergency power. And would be depleted in minutes under its maximum load.
It is also an incentive to shift demand when there is plenty of renewable power: charge your car , do the laundry and so on
The battery solutions on grid scale are available now. They need to be built and paid for. Negative prices might help motivate investors.
TIL, thanks for the link!
That's pretty awesome ngl :p
The bigger the incentive the more money gets spent on funding the necessary R&D.
If you can actually get them. According to the article, it appears that an end user with his own battery system cannot actually get paid to store energy.
Yeah, negative prices finally incentivize storage technologies such as battery storage.
How does it incentivize it?
The problem with energy storage isn't a lack of incentives, it's a lack of solutions. There are currently no proven, grid scale, economical, and robust energy storage solutions.
There are lots of storage solutions that work within limited geographical areas (ie. Pumped hydro). But past that it's a crap shoot.
Batteries are absolutely nowhere near the capacity or longevity needed for grid scale storage.
The largest battery storage system in the world is primarily used for grid leveling and emergency power. And would be depleted in minutes under its maximum load.
It is also an incentive to shift demand when there is plenty of renewable power: charge your car , do the laundry and so on
Looks like it is possible to do in California already today, for hours, not minutes: https://reneweconomy.com.au/deeper-longer-cleaner-big-batteries-extend-domination-of-californias-evening-demand-peaks/
The battery solutions on grid scale are available now. They need to be built and paid for. Negative prices might help motivate investors.
TIL, thanks for the link!
That's pretty awesome ngl :p
The bigger the incentive the more money gets spent on funding the necessary R&D.
If you can actually get them. According to the article, it appears that an end user with his own battery system cannot actually get paid to store energy.