The European Union and the United Kingdom will reform the current electricity market design to better integrate renewable energy sources and decrease our collective reliance on fossil fuels. To this extent, capacity markets play a crucial role in ensuring the reliability and stability of power systems, particularly those with renewable generation. In fact, electricity storage will play an increasingly important role in stabilising power systems based on renewable energy generation.
Sustainable and reliable technologies such as flow batteries are needed to help balance the demand and supply of electricity in the grid. Flow batteries are a cost-effective energy storage solution that offers the benefits of scalability, long-duration discharge and high round-trip efficiency.
By enhancing the reliability and resilience of power systems based on renewable generation, flow batteries can support and accelerate the transition away from fossil fuels. We therefore encourage the European Commission to support flow battery deployment.
In anticipation of the soon-to-be-released proposal on Electricity Market Design Reform, in our recent position paper, we need to discuss why flow batteries are a valuable capacity resource.
Check out our position paper below now to learn more about the need for power system capacity and the role of flow batteries.