Abstract:

Energy storage development is inextricably linked to policy environment support as crucial technological support for developing a new power system. The European Union has extensive experience in the establishment of a unified and fully competitive power market as the pioneer of power market-oriented reform. At present, it has produced a mature trading system of spot market and power balancing mechanism, which provides favorable conditions for building a business model for energy storage. Simultaneously, the European Union has made regular revisions to top-level policies and power market regulations to promote large-scale energy storage development and provide favorable conditions for energy storage to participate in the power market on a greater scale, which is instructive for China. In this study, the current situation of energy storage is first summarized. Furthermore, from the aspects of the European Union Commission and the Member States, this study introduces the situation of the European Union in R&D funding and storage subsidies, followed by a detailed analysis in terms of identity for market participation, transaction mechanism, and market opening. Finally, the experience of the EU in China is summarized.

Key words: energy storage, policy, electricity market, balancing mechanism, capacity market