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Valuing Energy Storage with Clean Peak Energy Standards

Posted:
02 Apr 2020
Authors:
Nehal Divekar
Primary Committee:
IEEE Smart Grid Webinars
Video Length / Slide Count:
Time: 01:01:29
Massachusetts became the pioneering state to initiate policymaking for a clean peak energy standard (CPES) that seeks to incentivize technologies providing clean energy or reducing consumption during peak demand, in order to reduce ratepayer costs and avoid GHG emissions. The concept holds broader appeal given its many parallels with the RPS construct and mandates load serving entities to meet a pre-determined percentage of annual retail electricity sales by procurement of clean peak energy certificates (CPC).
Energy storage holds a role of prominence in that policy objective by virtue of its versatility in shifting clean energy to times of peak demand and also providing ancillary services to the grid. Additional revenues from CPC coupled with declining capital costs therefore promise to create a better business case and consequently drive the storage industry. This webinar will cover the proposed CPES policy construct and emphasize on the economics of applications involving energy storage.
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