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Co-Locating Energy Storage & Renewables with Brian Knowles
The HC Commodities Podcast
Markets for Fast Frequency Response Is Initially Hot for Batteries, Saturation Follows
Fast frequency response markets create significant demand for energy storage assets, particularly batteries that can instantaneously charge or discharge. The PJM Reg D market from 2013 to 2016 exemplified this, emerging as a leading hub for short-duration energy storage projects, utilizing batteries with capacities often under an hour or even down to 15 minutes. However, as the market reached saturation, the limitations of these energy storage solutions in addressing short-term supply and demand variations became apparent, leading to a reduced need for additional capacity. Subsequent modifications to settlement pricing rules contributed to the decline of this once-thriving market. Similar patterns of initial enthusiasm followed by saturation are now being observed in other markets.
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