• Energy Research
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In the UK electricity market, generators are obliged to produce part of their electricity with renewable energy resources in accordance with the Renewable Obligation Order. Since 2009 technology banding has been added, meaning that different technologies are rewarded with a different number of certificates. We analyze these two different renewable obligation policies in a mathematical representation of an electricity market with random availabilities of renewable generation outputs and random electricity demand. We also present another, alternative, banding policy. We provide revenue adequate pricing schemes for the three obligation policies. We carry out a simulation study via sampling. A key finding is that the UK banding policy cannot guarantee that the original obligation target is met, hence potentially resulting in more pollution. Our alternative provides a way to make sure that the target is met while supporting less established technologies, but it comes with a significantly higher consumer price. Furthermore, as an undesirable side effect, we observe that a cost reduction in a technology with a high banding (namely offshore wind) leads to more CO2 emissions under the UK banding policy and to higher consumer prices under the alternative banding policy.

In the UK electricity market, generators are obliged to produce part of their electricity with renewable energy resources in accordance with the Renewable Obligation Order. Since 2009 technology banding has been added, meaning that different technologies are rewarded with a different number of certificates. We analyze these two different renewable obligation policies in a mathematical representation of an electricity market with random availabilities of renewable generation outputs and random electricity demand. We also present another, alternative, banding policy. We provide revenue adequate pricing schemes for the three obligation policies. We carry out a simulation study via sampling. A key finding is that the UK banding policy cannot guarantee that the original obligation target is met, hence potentially resulting in more pollution. Our alternative provides a way to make sure that the target is met while supporting less established technologies, but it comes with a significantly higher consumer price. Furthermore, as an undesirable side effect, we observe that a cost reduction in a technology with a high banding (namely offshore wind) leads to more CO2 emissions under the UK banding policy and to higher consumer prices under the alternative banding policy.

In the current situation with the unprecedented deployment of clean technologies for electricity generation, it is natural to expect that storage will play an important role in electricity networks. This paper provides a qualitative methodology to select the appropriate technology or mix of technologies for different applications. The multiple comparisons according to different characteristics distinguish this paper from others about energy storage systems. Firstly, the different technologies available for energy storage, as discussed in the literature, are described and compared. The characteristics of the technologies are explained, including their current availability. In order to gain a better perspective, availability is cross-compared with maturity level. Moreover, information such as ratings, energy density, durability and costs is provided in table and graphic format for a straightforward comparison. Additionally, the different electric grid applications of energy storage technologies are described and categorised. For each of the categories, we describe the available technologies, both mature and potential. Finally, methods for connecting storage technologies are discussed.

In the current situation with the unprecedented deployment of clean technologies for electricity generation, it is natural to expect that storage will play an important role in electricity networks. This paper provides a qualitative methodology to select the appropriate technology or mix of technologies for different applications. The multiple comparisons according to different characteristics distinguish this paper from others about energy storage systems. Firstly, the different technologies available for energy storage, as discussed in the literature, are described and compared. The characteristics of the technologies are explained, including their current availability. In order to gain a better perspective, availability is cross-compared with maturity level. Moreover, information such as ratings, energy density, durability and costs is provided in table and graphic format for a straightforward comparison. Additionally, the different electric grid applications of energy storage technologies are described and categorised. For each of the categories, we describe the available technologies, both mature and potential. Finally, methods for connecting storage technologies are discussed.

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