MPs call for storage subsidy
BEIS select committee recommends considering price support for sector
British MPs have recommended that the government considers subsidising energy storage to kick-start a smart energy “revolution”.
The BEIS select committee called on the government to examine whether price support for storage is needed to “accelerate deployment given (its) importance to unlocking the full potential of renewable energy”.
In its ‘Energy revolution and future challenges for UK energy and climate change policy’ report, the committee reiterated its recommendation to address regulatory barriers faced by storage “as a matter of urgency”.
Changes proposed include introducing a clear definition for storage, and end to double-charging of levies for import and export, and a separate asset class for grid-level electricity storage.
The report also recommends a “high-level public commitment” to making the UK a world leader in storage and the setting of a storage procurement target for 2020.
Capacity market rules in relation to storage, including increasing the contract length and addressing restrictions around stacking of revenues for storage projects, should also be considered, it added.
Image: Battery storage (AES)