2020 PES GM 8/5 Panel Video: Integrating Electric Storage Resources and Hybrid Resources in Electricity Market Operations

Electric storage resources are continuing to increase in numbers as their ability to inject and withdraw energy to/from the electric grid at rapid response rates provides increased flexibility and allows for energy to be provided when most needed. Hybrid resources include multiple technologies that are co-located and have technology or economic interdependencies that require them to operate differently than two individual resources. These resources, the most commonly discussed includes batteries and photovoltaic solar power, are also growing in the United States due to policies with investment tax credits as well as savings for inverter costs, and are seen elsewhere across the world as well. Both of these resources have unique characteristics, and electricity markets can either represent these characteristics explicitly or allow the asset owners to develop offer strategies to internalize these characteristics and constraints. The panel will explore various topics related to the integration of both stand-alone electric storage resources and hybrid electric storage resources into electricity market designs and electricity market clearing software.