The developing BESS market 2024
The acceleration of investment and construction of BESS has led to bottlenecks along the supply chain. For example, the U.K.''s National Grid has experienced a large number of delays, some
BESS are able to store excess energy produced in periods of low demand, which can be discharged into the grid during periods of high demand. BESS operators can therefore receive financial returns for meeting surging energy needs. The acceleration of investment and construction of BESS has led to bottlenecks along the supply chain.
Insurer confidence in BESS has steadily grown over the last few years, leading to a marked increase in supply of available capacity and a relative flattening of premium rates.
The acceleration of investment and construction of BESS has led to bottlenecks along the supply chain. For example, the U.K.'s National Grid has experienced a large number of delays, some in excess of a year, on sites connecting to the grid.
Incorporating BESS into grid networks requires upgrading and digitalization of the grid, adding to the complexity and challenges of the electricity market. While BESS can be used as part of a grid's balancing mechanism, currently in the U.K. BESS are being overlooked for more traditional energy sources such as gas.
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