IRENA, under the umbrella of the SIDS Lighthouses Initiative, aims to facilitate the financing of energy storage in island systems. For this purpose, a paper “Financing Storage for Islanded Renewable Energy Systems”, highlighting the difficulties and potential solutions to the securing of financing for energy storage projects in remote areas and islands, has been prepared.
It is our pleasure to inform you that IRENA will be hosting a webinar on Financing Storage for Islanded Renewable Energy Systems on Friday, 18 March 2016, 11am Eastern Standard Time, to discuss and seek your feedback on the concepts, barriers and possible solutions identified within this paper.
Renewable power generation is an economically and technically attractive alternative to diesel generators in island systems. However, utilities and other stakeholders within the power sector often face technical challenges to the integration of high shares of variable renewable energy due to the small size of their power systems, weak interconnections and a lack of flexible power supply and demand.
In recent years, advanced energy storage has emerged as a viable means of support for power systems with high shares of renewables. However, experience with energy storage systems is still limited. Information on developing a sound business case and attracting financing for this is therefore also limited, making this a very important issue.
Please find the paper on “Financing Storage for Islanded Renewable Energy Systems” attached and the link to register for the webinar below: