March 2019 / Policy Papers - Responses to Public Consultations
EASE submitted a response to the European Investment Bank’s Public Consultation on the EIB Energy Lending Policy. The consultation examines how future EIB backed investment can reduce energy consumption through energy efficiency, better support renewable power generation, improve financial and advisory backing for energy innovation and secure infrastructure essential for energy transition.
April 2019 / Policy Papers
Maximising Social Welfare of Energy Storage Facilities through Multi-Service Business Cases
In November 2018, the European Commission presented its strategic long-term vision for a prosperous, modern, competitive and climate-neutral economy by 2050, which seeks to establish a vision on how the EU can deliver on the Paris Agreement. The strategy assesses different pathways for the EU to achieve greenhouse gas emissions reductions between -80% by 2050 (compared to 1990) up to net zero greenhouse emissions by 2050.
All scenarios developed by the European Commission converge on one element: storage capacity will significantly increase to enable integration of higher shares of variable RES in a faster, more efficient way. Total stationary storage used in the power system (i.e. pumped hydro storage, stationary batteries and chemical storage, including the indirect storage effects of producing e-fuels for the final consumers) is expected to reach between 250 TWh to 450 TWh by 2050.1
This strong increase in energy storage demand raises questions: how will the market evolve to cope with the need for storage, how will storage services be remunerated, and how can this added value from energy storage be maximised?