Storelectric’s CAES plants are usually designed as stand-alone plants with stand-alone profits based on buying electricity from the grid and selling it back to the grid. There are many up-side revenue streams available, such as buying and selling under PPAs (Private Purchase Agreements), trading currently untraded services, trading Black Start and related services, and trading services on the distribution grid. Added to these are synergies related to co-location (either real or virtual) with renewable generation.
Synergies with Wind Farms
When the landfall of the cable from wind farms passes through Storelectric’s large-scale long-duration storage, it the following benefits can accrue:
- Halving the size of grid connection –
- Reduces capital costs for the wind farm,
- Halves annual grid connection charges,
- Greatly reduces the grid reinforcement needed;
- Storage sharing the grid connection with the wind farm –
- Eliminating its grid connection costs and annual charges;
- The wind farm “sells” its energy to the storage, down a “private wire” –
- Eliminates grid access charges for energy sold by the wind farm,
- Eliminates grid access charges for energy bought by the storage,
- Gives a long-term PPA for both;
- The storage adds value-added services for the grid, including –
- Output energy is dispatchable rather than intermittent,
- Real inertia 24/7 at twice the rate of an equivalent-sized power station,
- Real reactive power and load at 117% of the rate of a power station,
- Balancing services such as FRR and FCR,
- Black start, if designed in at the outset.
Synergies with Solar Farms
These are the same as those with wind farms, except that the grid connection size can be reduced by two-thirds.
Synergies with Interconnectors
When there is no demand across the interconnector, energy can still be transported for future needs if transported into storage. In the same way, it can still be bought and stored for future transportation against future needs.
If solar generation alone is connected to an interconnector, the volume of electricity carried per day can increase roughly 6-fold if there is storage between the solar farm and the interconnector. At the other end of the interconnector, storage can convert inertia-free baseload input into dispatchable output with natural inertia and reactive power / load.