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Incentives and policies to support electricity storage technologies are "scant and ill-designed", according to the Institution of Mechanical Engineers. "The potential value of storage to the UK power network is at present not well understood by Westminster," added IMechE head of energy and environment, Tim Fox.
The institution has published a policy statement outlining potential storage technologies and how much storage will be needed to balance intermittent renewable power. If wind penetration reaches 30 per cent, the UK will need around three times its current storage levels, said the IMechE, citing National Grid projections.
The problem is that investors aren’t interested because they can achieve higher profits through other subsidised projects, for example, those that achieve guaranteed returns under the feed in tariff (Fit) scheme.
The IMechE said government should assess how much storage is needed, its value, and incentivise it.
See the statement here.
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