Abstract
The impact of the energy storage systems (ESSs) on the future grid is gaining more attention than before from power system designers, grid operators and regulators. This chapter presents a detailed review on different energy storage technologies, their current and future status, their share in different smart grid (SG) applications, and their technical and financial benefits as enabling technology for the deployment of the future SG. ESS technologies can provide multiple services at each stage of the electricity supply chain, in addition to, mitigating the intermittency of integrating renewables and their power quality problems and enabling different SG applications. Different energy storage technologies are at various maturity levels and are deployed in changing amounts. The chapter discusses the key performance parameters for evaluating energy storage technologies. Energy storage can provide the following grid‐services: power quality services, transient stability services, regulation services, spinning reserve services, voltage control services, firm capacity services, and congestion relief services.
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