Colocation, Colocation, Colocation
Last year was a big year for UK energy with industry leaders dubbing it the ‘Year of Battery Storage’. This accolade was awarded not on terms of project numbers and size, the UK's Year of the Battery was really the year that battery storage projects became bankable.
A hefty 14.5GW of projects in the pipeline dwarf the 1.2GW of battery energy storage projects currently in operation as the industry and regulators work hard to integrate battery energy storage systems (BESS) into their business models and wait on legislation to improve. There has been a lot of progress in recent years with technical issues such as battery degradation and the optimisation of asset performance, all while the LCOE of battery projects continues to decrease and financial tools such as revenue stacking become available. While firms work hard on these issues other market opportunities have been targeted, chief among them being colocation with renewables.
Pairing battery storage with wind turbines or solar panels adds a deeper layer of value to the generation asset allowing the project owner to create dynamic revenue strategy with the asset. Energy storage allows you to take control of the power generated and trade the energy in a way that maximises profit. It also adds a layer of energy security to any operation that generates power for self-consumption by creating UPS and enhanced power management capability.
Multi Source Power specialises in supplying battery storage solutions for colocation projects. We build and install our market-leading Flex-ESS energy storage systems on wind and solar farms giving clients the most modular, flexible and efficient storage systems on the market. Each Flex-ESS system is fully factory-built and tested, reducing project risk and cost thanks to its simple installation, small footprint and lightweight construction.
Siting storage with solar or wind that has an existing grid connection can save on planning restrictions and transmission network costs. Batteries can also directly reduce the chances of renewable power being curtailed at times when supply outstrips demand.
You can read more on the Year of the Battery and colocation here: