Business models in energy storage
The business models for large energy storage systems like PHS and CAES are changing. Their role is tradition-ally to support the energy system, where large amounts of baseload capacity
The business models for large energy storage systems like PHS and CAES are changing. Their role is tradition-ally to support the energy system, where large amounts of baseload capacity cannot deliver enough flexibility to respond to changes in demand during the day.
E Though the business models are not yet fully developed, the cases indicate some initial trends for energy storage technology. Energy storage is becoming an independent asset class in the energy system; it is neither part of transmission and distribution, nor generation. We see four key lessons emerging from the cases.
Building upon both strands of work, we propose to characterize business models of energy storage as the combination of an application of storage with the revenue stream earned from the operation and the market role of the investor.
With the rise of intermittent renewables, energy storage is needed to maintain balance between demand and supply. With a changing role for storage in the ener-gy system, new business opportunities for energy stor-age will arise and players are preparing to seize these new business opportunities.
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