Battery storage is now at the forefront of the ever-changing renewable energy sector.
Advances in battery technology allow renewable electricity to be not only a clean source of electricity but also a reliable one.
An increasing number of developers are looking to install battery storage alongside their existing solar, wind and other renewable developments. This enables them to store excess electricity generated and delay exporting to times of peak demand, as well as balance the supply of electricity being exported during the day in order to prevent power fluctuations.
Developers are also looking to install standalone battery storage facilities close to grid connection points, so they can import (buy) electricity from the Grid during the day – when the price is lower – and export (sell) the electricity back to the Grid in the evenings at peak demand - when the price is higher – and make a profit.
Also, to help stabilise the Grid, National Grid is running a series of tenders for reactive power contracts, ideal for those with electricity storage facilities (to import/export electricity on demand). The current tender is open until 13 June 2016 for contracts commencing in October 2016.
There is, however, a shortage of sites suitable for connecting to the Grid and developers are racing to secure the best sites. Developers are encouraging landowners to instruct solicitors to act for them who have renewable experience and can act quickly. Thrings has a strong renewables capability and we are receiving a flurry of new instructions in this area.
With developers acting quickly to sign up landowners, Thrings is also acting quickly to secure instructions and then to negotiate a deal which works for both the developers and landowners, in time to meet tight deadlines.
The race is on.
For further information about battery storage, please contact Helen Rumford, Head of Renewables at Thrings.