Energy Storage Science and Technology ›› 2022, Vol. 11 ›› Issue (1): 370-378.doi: 10.19799/j.cnki.2095-4239.2021.0290

• Technical Economic Analysis of Energy Storage • Previous Articles     Next Articles

UK policy mechanisms and business models for energy storage and their applications to China

Huan ZHU1(), Jianxiang XU1, Guojing LIU2, Fen YUE3(), Zhenhua YU3, Xing ZHANG3   

  1. 1.State Grid Jiangsu Power Company, Nanjing 210024, Jiangsu, China
    2.Economic Research Institute, Jiangsu Electric Power Company, State Grid, Nanjing 210000, Jiangsu, China
    3.China Energy Storage Alliance, Beijing 100022, China
  • Received:2021-06-26 Revised:2021-07-14 Online:2022-01-05 Published:2022-01-10
  • Contact: Fen YUE E-mail:zhuh@js.sgcc.com.cn;fen.yue@cnesa.org

Abstract:

The rise and development of energy storage are inseparable from policy encouragement and mechanism support. The United Kingdom (UK) has a mature electricity market that provides the foundation and conditions for building an energy storage business model. In recent years, the UK also revised the policies and market rules that restrict the development of energy storage, gradually clearing away the obstacles to its large-scale application and participation in the power market. Obstacles are worth learning for China. This study first sorts out the status quo of energy storage in the UK and then analyzes this status quo from the aspects of market development focus, participant types, and project scale. The UK's energy storage is then analyzed in detail from the aspects of financial support and system reform, policy incentives, and rule revisions in terms of technological innovation, planning approval system, energy storage asset attribute definition, shared site rules, auxiliary service market, capacity market, and balance mechanism. Finally, based on the adjustment of policies and market rules, this study sorts out the sources of income and business models of UK energy storage projects and summarizes the enlightenment of British experience to our country.

Key words: energy storage, policy, electricity market, business model

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