Energy storage for grid parity projects

Does Shandong have a grid parity policy?

In August 2019, the Shandong Energy Administration released the “Notice on Improving Grid Access for Grid Parity Projects in Shandong,” which encouraged large-scale centralized solar PV projects to install energy storage systems in order to reduce solar curtailment.

Why is energy storage important?

Energy storage can stabilize generation, improve power quality, provide storage of excess generation, help increase the grid’s consumption of renewable generation, and increase the flexibility of grid dispatch. Through grid parity, solar power generation may now pave the way for development of the “solar-plus-storage” market. 1.

How can energy storage help the electric grid?

Three distinct yet interlinked dimensions can illustrate energy storage’s expanding role in the current and future electric grid—renewable energy integration, grid optimization, and electrification and decentralization support.

Should electric power companies deploy decentralized storage assets?

Storage as an equity asset: By deploying decentralized storage assets, electric power companies can help provide reliable, resilient, clean, and affordable electricity to low-income communities.

What is a solar energy storage project?

The energy storage project utilizes lead-carbon batteries and LiFePo lithium-ion batteries, and averages one daily charge-discharge cycle for storage of solar energy that would normally be curtailed. The project went operational in January 2018 and was developed at a total investment cost of 950,000 RMB.

How to improve energy storage industry competitiveness?

Efficient manufacturing and robust supply chain management are important for industry competitiveness of energy storage: Establishing domestic manufacturing facilities and supply chains, along with diversification through free trade agreement countries, can enhance the resilience of the energy storage industry.