March 2019 Richard L. Revesz Burcin Unel

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Presentation transcript:

March 2019 Richard L. Revesz Burcin Unel Managing the Future of the Electricity Grid: Energy Storage and Greenhouse Gas Emissions March 2019 Richard L. Revesz Burcin Unel

Energy Storage Systems Energy Storage Technologies Mechanical Electro-chemical Thermal Electrical All with different capacity, duration of discharge, and, of course, costs

Benefits of Energy Storage Source: Rocky Mountain Institute, The Economics of Battery Energy Storage

Potential for Unintended Consequences Energy storage can increase emissions if policies are not designed carefully Marginal Emission Rates The additional pollution caused by using one more unit of electricity generation at a particular time and place Vary by time and location Efficiency Losses

Potential for Unintended Consequences Emissions in units of kg of CO2 per megawatt-hour of delivered energy from the storage NYISO Average Hourly Zonal Marginal CO2 Emissions Rates Source: Eric Hittinger; Inês M. L. Azevedo; Environ. Sci. Technol. 2017, 51, 12988-12997. DOI: 10.1021/acs.est.7b03286 Copyright © 2017 American Chemical Society Data Source: NYISO

Inadequacy of the Current Regulatory and Policy Landscape Inadequacy of direct investment incentives To distinguish between potentially beneficial and potentially harmful energy storage CA Self-Generation Incentive Program To achieve efficient incentives for all types of energy storage Inadequacy of indirect price incentives FERC rules on energy storage compensation State rules on energy storage compensation

Policies Needed to Achieve Efficient Incentives Achieving efficiency Internalizing the externalities Eliminating barriers to entry Order 841 Eliminating barriers to earning multiple value streams Jurisdictional roles Roles for FERC Roles for States

Conclusion Energy storage holds a key to the clean energy future BUT, there are circumstances under which they can have undesired consequences Policies should be designed to Internalize the externalities Eliminate entry barriers Guarantee accurate price signals that can value all the benefits energy storage systems have the technical ability to provide

For questions and comments: burcin.unel@nyu.edu