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    Energy Storage: Legal and Regulatory Challenges and Opportunities
    Energy Storage: Legal and Regulatory Challenges and Opportunities
    Energy Storage: Legal and Regulatory Challenges and Opportunities
    Ebook152 pages1 hour

    Energy Storage: Legal and Regulatory Challenges and Opportunities

    By Louise Dalton

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    About this ebook

    Energy storage is a key trend in the electricity industry across the globe, with one recent analysis predicting 942GW of storage (excluding pumped storage) will be developed by 2040.

    This Special Report provides an overview of the key issues in relation to the development of storage projects, including:
    •The main technologies
    •Regulatory arrangements
    •Revenue streams and
    •Contracting arrangements

    and covers the key policy, commercial and legal principles that underpin this developing sector.
    LanguageEnglish
    PublisherGlobe Law and Business
    Release dateJun 18, 2019
    ISBN9781787422711
    Energy Storage: Legal and Regulatory Challenges and Opportunities

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      Book preview

      Energy Storage - Louise Dalton

      title

      Author

      Louise Dalton

      Managing director

      Sian O’Neill

      Energy Storage: Legal and Regulatory Challenges and Opportunities is published by

      Globe Law and Business Ltd

      3 Mylor Close

      Horsell

      Woking

      Surrey GU21 4DD

      United Kingdom

      Tel: +44 20 3745 4770

      www.globelawandbusiness.com

      Printed and bound by CPI Group (UK) Ltd, Croydon CR0 4YY, United Kingdom

      Energy Storage: Legal and Regulatory Challenges and Opportunities

      ISBN 9781787422704

      EPUB ISBN 9781787422711

      Adobe PDF ISBN 9781787422728

      Mobi ISBN 9781787422735

      © 2019 Globe Law and Business Ltd except where otherwise indicated.

      The right of Louise Dalton to be identified as author of this work has been asserted by her in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.

      All rights reserved. No part of this publication may be reproduced in any material form (including photocopying, storing in any medium by electronic means or transmitting) without the written permission of the copyright owner, except in accordance with the provisions of the Copyright, Designs and Patents Act 1988 or under terms of a licence issued by the Copyright Licensing Agency Ltd, 6–10 Kirby Street, London EC1N 8TS, United Kingdom (www.cla.co.uk, email: licence@cla.co.uk). Applications for the copyright owner’s written permission to reproduce any part of this publication should be addressed to the publisher.

      DISCLAIMER

      This publication is intended as a general guide only. The information and opinions which it contains are not intended to be a comprehensive study, or to provide legal advice, and should not be treated as a substitute for legal advice concerning particular situations. Legal advice should always be sought before taking any action based on the information provided. The publishers bear no responsibility for any errors or omissions contained herein.

      Table of contents

      I. Introduction

      1.Issues and challenges

      2.Current and predicted storage deployment

      II. Why is electricity storage required?

      1.Benefits

      2.Range of services

      III. Storage technologies

      1.Technology summaries

      2.Technology selection

      IV. Applications

      1.Standalone storage projects

      2.Co-location with generation

      3.Commercial behind-the-meter applications

      4.Domestic behind-the-meter applications

      5.Islanded networks and micro-grids

      6.Co-location with electric vehicle charging infrastructure

      V. Regulatory framework

      1.Overview

      2.Licensing

      3.Final consumption levies

      4.Network charging

      5.Definition of storage

      6.Disputes

      VI. Role of stakeholders

      1.Government

      2.Energy regulator

      3.System operators

      4.Network owners

      5.Aggregators

      6.Suppliers

      7.Generators

      VII. Revenue streams

      1.Revenue stacking

      2.Frequency response

      3.Provision of reserve

      4.Black Start

      5.Alternative system services

      6.Energy trading

      7.Participation in balancing market

      8.Other revenue streams

      VIII. Electricity export and trading agreement

      1.Overview

      2.Trading arrangements

      3.Co-located projects

      IX. Import electricity supply agreement

      1.Agreement structure

      2.Pricing

      X. Grid connection arrangements

      1.Key considerations

      2.Existing connections

      3.Active network management

      XI. Construction contract

      1.Contractual structure

      2.Key issues

      XII. Operations agreement

      1.Structure and key provisions

      2.Additional considerations

      XIII. Land agreement

      1.Land requirement

      2.Key considerations

      XIV. Permitting

      1.Consent to construct and operate

      2.Producer responsibility

      3.Wider environmental and health and safety requirements

      XV. Corporate arrangements

      1.Corporate structures

      2.M&A activity

      3.Investors

      XVI. Financing arrangements

      1.Overview

      2.Key challenges

      3.Key issues

      4.Key financing terms

      XVII. Conclusion

      Notes

      About the author

      About Globe Law and Business

      I. Introduction

      1.Issues and challenges

      The storage of electricity has the potential to solve many of the issues that the global electricity system currently faces. Until recently, the ability to store electricity at scale was limited to pumped hydro projects. However, the advent of lower-cost battery storage technologies in particular has been the catalyst for the creation of an entirely new sub-sector in the electricity industry.

      As a nascent industry, the storage sector faces a variety of legal and regulatory challenges, depending on the jurisdiction, technology and application. This report provides an overview of the key issues applicable internationally in relation to the development of electricity storage projects, including:

      • the principal storage technologies and their applications;

      • regulatory arrangements;

      • revenue streams; and

      • contracting arrangements.

      It also covers the key policy, commercial and legal principles that underpin this developing sector.

      Energy storage has been the hot topic in the electricity industry in recent years. By its very nature, this report cannot be fully comprehensive or cover all issues faced by every type of electricity storage project. This report also does not cover other forms of storage, such as thermal energy storage.

      2.Current and predicted storage deployment

      In 2017 there were around 176.5 gigawatts (GW) of operational energy storage globally, with pumped hydro accounting for 172 GW.¹ Nonetheless, the storage sector is forecast to explode in the coming decades, with Bloomberg New Energy Finance predicting that the global energy storage market (excluding pumped hydro) will grow to a cumulative 942GW/2,857GWh by 2040, attracting $620 billion in investment over the next 22 years.² This growth is expected across the globe (see Figure 1).

      Figure 1. Global cumulative storage deployments³

      Source: BloombergNEF

      II. Why is electricity storage required?

      1.Benefits

      Electricity storage has become a key area of focus in many jurisdictions across the globe, due to its potential to offer a wide range of benefits to electricity systems. In particular:

      • the rise in intermittent, non-dispatchable generation, particularly renewables, makes it more difficult to balance electricity supply and demand and maintain the required system power quality. The rise in the deployment of intermittent technologies has further incentivised the use of storage technologies as the increasing penetration of renewables in the wholesale markets has resulted in the market becoming more liquid and more real-time activity being required;

      • increased electrification of transport and heat is heightening system demand, which can increase the complexity of managing the wider electricity network; and

      • in a number of jurisdictions, there is a growing lack of electricity generation capacity margin, due to the closure of old transmission-connected capacity (eg, coal and nuclear).

      2.Range of services

      These factors have made greater flexibility invaluable, which electricity storage technologies are ideally placed to provide. As these factors are anticipated to increase, the demand for services that can be provided by storage is likewise expected to grow.

      The flexibility of electricity storage means that projects can provide some or all of the following services to the wider electricity system:

      • System services: Storage can provide and stack ancillary services (ranging from frequency response to voltage control), creating a variety of revenue options for storage providers.

      • Balancing services: Storage projects can participate in electricity trading, including real-time and near-real-time system balancing services, which can be particularly lucrative at times of significant system imbalance.

      • Intermittent generation integration: Storage co-located with renewable generation enables efficient use of such generation by storing power

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