ANNOUNCEMENTS
Overall this study is an attempt to understand the role of electrical energy storage in grid balancing in view of changing energy mix of a country due to the penetration of variable renewable energy sources. This has been done by the screening of energy storage technologies for various grid applications. Further, economic analysis has also been done to understand the feasibility of the selected energy storage technology. It is necessary to understand the grid balancing strategies of developed and developing countries with a substantial share of variable renewable energy sources. This has been done by selecting seven countries/states with a substantial share of variable renewable energy sources. The need for electrical energy storage and why the departure from the existing balancing strategies is needed has been explored. The economic viability of electrical energy storage has been carried out. For this revenues from participation in arbitrage only and combining arbitrage and regulation have been carried out. The result shows combining services increases revenue. This information has been used for exploring the feasibility of electrical energy storage in India. As the penetration of variable renewable energy in the energy mix of a country is a reality, standalone revenue of wind farm/solar photovoltaic from the energy market and using optimum scheduling strategy of hybrid systems (wind farm/solar photovoltaic and storage battery) have been calculated. It has been found that there is a gain in revenue while using the optimal scheduling strategy of hybrid systems consisting of wind farm/solar photovoltaic with electrical energy storage.
Key Words of the Research: Electrical Energy Storage, Grid Balancing, Ancillary Services.
