Business Case for Smart Grid Technologies and Energy Storage in supporting solar PV integration
Smart Grid Technologies and Energy Storage specifically may assist in achieving cost-efficient integration of solar PV capacity in distribution networks. This can be accomplished by constructing business models that will allow quantification of costs and benefits of investing in smart technologies while taking into account the increasing uncertainty related to solar PV deployment. Also, business models that capture the value of Energy Storage from a whole system perspective will be developed and disseminated (savings in system operation costs, in generation /transmission /distribution CAPEX etc.). These models will be presented and disseminated to all interested partners.
- Demonstrate the importance of considering uncertainties when planning future network reinforcement
- Showcase the methodology for quantification of the option value of Energy Storage.
- Develop novel modelling framework for operation and investment in Storage and Soft Open Points in supporting cost effective integration of PV generation.
- Demonstrate the multiple value streams associated with Energy Storage technology.