Hostname: page-component-cd9895bd7-dk4vv Total loading time: 0 Render date: 2024-12-27T09:52:36.088Z Has data issue: false hasContentIssue false
  • English
  • Français

Keeping current: How advancements in electricity storage can save money for consumers

Published online by Cambridge University Press:  29 July 2019

David Kolata
David Kolata*
Affiliation:
Citizens Utility Board Chicago, Illinois, USA
Get access

Abstract

Advances in storage and battery technology offer value to the electric grid and individual budgets, with the potential for electric vehicles (EVs) to significantly lower household transportation spending as the best current example.

Cost-effective storage is a holy grail for the electrical grid and for consumer advocates. Storage potentially provides opportunities to help lower overall electric system costs, such as by time-shifting, frequency regulation, reducing the cost of renewables integration, and helping to more cheaply balance supply and demand. It also provides opportunities to help individual budgets, with the potential for electric vehicles (EVs) to significantly lower household transportation spending as the best current example. While there are thus many good reasons for advocates to be bullish on electricity storage, maximizing the full consumer value depends on continuing the impressive cost declines of batteries and other storage technologies we have seen over the last decade. It is important for states, regional power markets, and public utility commissions to get policy right. Keeping up with the evolving storage market and maximizing consumer and environmental value will require proactive policies aimed at facilitating integration, aligning incentives, and promoting innovation. Given the great potential, now would be a good time for stakeholders and policymakers to start moving forward.

Keywords

energy generationenergy storagestorage
Type
Perspective
Information
MRS Energy & Sustainability , Volume 6 , 2019 , E12
Copyright
Copyright © Materials Research Society 2019 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

REFERENCES

Faruqui, A., Hledik, R., Newell, S., and Pfeifenberger, J.: The power of five percent. Electr. J. 20, 8.CrossRefGoogle Scholar
EDSO for Smart Grids: European distribution system operators for smart grids: Integrating electricity storage in distribution grids (2016, May). Available at: https://www.edsoforsmartgrids.eu/wp-content/uploads/EDSO-views-on-electricity-storage_final.pdf (accessed July 2, 2019).Google Scholar
Energy Storage Association: Facts & figures. Available at: http://energystorage.org/energy-storage/facts-figures (accessed August 28, 2018).Google Scholar
EVgo: Why electric vehicles are a good idea now (2019). Available at: https://www.evgo.com/why-evs/ (accessed July 2, 2019).Google Scholar
Greene, N.: Cheapest AND cleanest: Renewables are winning (December 14, 2018). Available at: https://www.nrdc.org/experts/nathanael-greene/cheapest-and-cleanest-renewables-are-winning (accessed July 2, 2019).Google Scholar
IRENA: Renewable Power Generation Costs in 2017 (International Renewable Energy Agency, Abu Dhabi, 2018).Google Scholar
Schewe, P.F.: Most electrified city. In The Grid (Joseph Henry Press, 2007); pp. 64–89.Google Scholar
Yohanis, Y.G., Mondol, J.D., Wright, A., and Norton, B.: Real-life energy use in the UK: How occupancy and dwelling characteristics affect domestic electricity use. Energy Build. 40, 1053–1059 (2008).CrossRefGoogle Scholar
Zethmayr, J. and Kolata, D.: Charge for less: An analysis of hourly electricity pricing for electric vehicles. World Electric Vehicle Journal 10(1), 1–9 (2019).CrossRefGoogle Scholar