Energy Storage Projects Research Articles

Exploring the willingness and evolutionary process of public participation in community shared energy storage projects: Evidence from four first-tier cities in China

Community shared energy storage projects (CSES) are a key initiative for maintaining grid stability in the process of advancing the low-carbon transition of energy systems. Understanding the public's willingness to participate is fundamental to CSES implementation and promotion. However, limited research has focused on this topic. This study investigated the public's willingness to participate in CSES, based on an extended technology acceptance model, and used social network modeling to explore the evolutionary process of public participation in CSES under different policy combination scenarios. Empirical data were obtained from online questionnaire surveys in four first-tier cities in China (N = 1276). The results show that (1) the majority (approximately 71.48%) of residents have a higher willingness to participate in CSES, but their willingness to invest in it is lower (22.32 yuan/month). Residents with lower willingness mainly believed that they should not pay extra maintenance and management fees for energy storage equipment, followed by concerns about the safety of this equipment. (2) Economic benefits, functional value, risk affordability, peer influence, and personal altruism are the determining factors that affect public participation in CSES. (3) Social interaction is beneficial for information transmission, thereby reducing the cognitive differences among the public regarding CSES. (4) The “economic incentive and mandatory” policy combination has significantly increased the proportion of public participation in CSES, but there is psychological resistance from the public toward policy implementation in the early stages. The “economic incentive and publicity” policy combination can promote public participation in CSES slightly. The combination of economic incentives, mandatory policies, and publicity policies has a synergistic effect. These findings provide new insights for application research in energy technology innovation.

Financial Investment Valuation Models for Photovoltaic and Energy Storage Projects: Trends and Challenges

Energy production through non-conventional renewable sources allows progress towards meeting the Sustainable Development Objectives and constitutes abundant and reliable sources when combined with storage systems. From a financial viewpoint, renewable energy production projects withstand significant challenges such as competition, irreversibility of investments, high uncertainty levels, and considerable investment amounts. These facts make their financial valuation fundamental for all the agents involved. Using the Web of Science (WoS) and Scopus databases, a scientometric analysis was carried out to understand the methods that have been used in the financial appraisal of photovoltaic energy generation projects with storage systems. The present research project was developed from 268 studies published between 2013 and 2023; tools such as Bibliometrix 4.1.3, VOSViewer 1.6.19, and Tree of Science 0.0.1a9 were used. Two main findings stand out: (i) the most used methods in the literature are the traditional ones, and within them, the levelized cost of energy has been used with greater frequency; and (ii) there is an interest in analyzing the investments of these systems for residences within the framework of distributed energy generation. Two gaps were found in the literature: (i) the studies that were carried out have not comprehensively incorporated the financial challenges faced by these investments; and (ii) the evaluation of these projects has not been addressed from the perspective of a utility-based power generator.

Functional-Combination-Based Comprehensive Benefit Evaluation of Energy Storage Projects under Source-Grid-Load Scenarios via Super-Efficiency DEA

As an important support for power systems with high penetration of sustainable energy, the energy storage system (ESS) has changed the traditional model of simultaneous implementation of electricity production and consumption. Its installed capacity under the source-grid-load scenario is rising year by year, contributing to sustainable development, but it faces the problems of insufficient utilization and benefits. This study analyzes the functional combination of ESS under source-grid-load scenarios. A comprehensive benefit evaluation method of energy storage projects (ESPs), based on a fuzzy decision-making trial and evaluation laboratory (DEMATEL) and super-efficiency data envelopment analysis (DEA), is proposed. Firstly, the functional requirements of energy storage in source-grid-load scenarios are explored, and the characteristics of various functions are analyzed to form eight functional combination schemes. Secondly, index modeling is carried out from three aspects—the whole life cycle cost, functional combination benefits, and social and environmental benefits—and a comprehensive benefit evaluation index system of ESP is proposed. Then, the intuitionistic trapezoidal fuzzy number (ITFN) is combined with DEMATEL to form an effective analysis method for the input–output relationship of the indices, and the comprehensive evaluation is realized based on the SE-DEA model. Compared with other methods, this model can ensure the objectivity and stability of the evaluation results in ESP evaluation. Finally, the effectiveness of the proposed evaluation method and the rationality of the functional combination are verified under source-grid-load scenarios. The calculation results show that in the application scenario of source-grid-load, after adopting the functional combination scheme formulated in this article, the comprehensive investment benefits of ESPs have been improved. Moreover, the source side effect is at its best, with an efficiency value of 2.209.

Optimal Planning of Energy Storage in Distribution Feeders Considering Economy and Reliability

The capacity of distributed photovoltaic impacts the safe and reliable operation of the distribution feeders. The energy storage is one solution for addressing that challenge. To balance the financial viability of investing in the energy storage projects in distribution feeders with grid reliability, an optimal planning method for energy storage considering economy and reliability is proposed. First, an economic model is established. Second, a grid reliability simulation is performed based on the economic optimization results of energy storage capacity in distribution feeders. Finally, considering the comprehensive indexes of economy and reliability, the technique for order preference by similarity to ideal solution method is used, and the final scheme is determined by the cumulative distribution curve. The simulation results show that it can effectively improve the distributed photovoltaic consumption capacity of the distribution feeders and better balance the financial viability of investing in energy storage considering reliability, which can be used as a reference for the reasonable determination of ratios of the energy storage for renewables.

Subsidy Policies and Economic Analysis of Photovoltaic Energy Storage Integration in China

In the context of China’s new power system, various regions have implemented policies mandating the integration of new energy sources with energy storage, while also introducing subsidies to alleviate project cost pressures. Currently, there is a lack of subsidy analysis for photovoltaic energy storage integration projects. In order to systematically assess the economic viability of photovoltaic energy storage integration projects after considering energy storage subsidies, this paper reviews relevant policies in the Chinese photovoltaic energy storage market. It analyzes the cost and revenue composition of photovoltaic energy storage integration projects, and constructs a system dynamics model for the levelized cost of electricity (LCOE) of such projects. Taking a specific photovoltaic energy storage project as an example, this paper measures the levelized cost of electricity and the investment return rate under different energy storage scenarios. Combining energy storage allocation ratios and internal rate of return indicators, this paper analyzes the net present value of photovoltaic energy storage integration projects under different subsidy standards. The results indicate that, while the current energy storage subsidy policies positively stimulate photovoltaic energy storage integration projects, they exhibit a limited capacity to cover energy storage investment costs, thereby failing to incentivize capital market participation in the construction of such projects. Rational allocation of energy storage capacity and optimization of corresponding subsidy policies are crucial prerequisites for enhancing the economic viability and widespread adoption of photovoltaic energy storage integration projects. This study not only aids in investment decision making for photovoltaic power stations but also contributes to the formulation of energy storage subsidy policies.

Biden's climate agenda: The most ambitious ever, or overlooking key technological bottlenecks?

The White House claims that Biden's Climate Agenda is “the most ambitious ever.” While the Inflation Reduction Act (IRA) and the Infrastructure Jobs Act (IJA) indeed do earmark billions of dollars for clean energy technologies, they also direct substantial sums of public money to conventional energy and fossil fuels. In comparison, energy storage technologies and projects—which are critical to renewable energy technologies and electric vehicles—are set to receive a much smaller amount. This marks a potentially substantial bottleneck that could eventually derail the administration's climate ambitions. By triangulating three sources of data: policy documents and funding commitments, trends in emissions reductions, and innovation, this article finds that Biden's Climate Agenda might not be as ambitious as the White House claims.

Geographic information system-based multi-criteria decision-making analysis for investment assessment of wind-photovoltaic-shared energy storage power stations: a case study of Shanxi Province.

As the center of the development of power industry, wind-photovoltaic (PV)-shared energy storage project is the key tool for achieving energy transformation. This research seeks to construct a feasible model for investment appraisal of wind-PV-shared energy storage power stations by combining geographic information system (GIS) and multi-criteria decision-making (MCDM) method. Firstly, a comprehensive criteria system is established from the perspectives of orography, economy, resources, climate, and society, and the evaluation data is described using probabilistic linguistic term sets (PLTSs). Then, to avoid the weight deviation produced by the single weighting approach, a comprehensive weighting model including the best-worst method (BWM) and entropy weight method is provided to calculate the weights of criteria. Next, expert weights are calculated based on trust analysis. Finally, alternatives are ranked by the improved gained and lost dominance score (GLDS) method. To verify the validity of the model, an empirical investigation is carried out in Shanxi Province. The results show that the economy is the primary factor influencing the investment decision. Among all the projects approved by the government, alternative F4 located in Yanzhuang Town, Yuanping City is the best investment object. Furthermore, to illustrate the stability of the result, triple sensitivity analysis and comparative analysis are conducted in Shanxi Province. This study expands the application scope of GIS and MCDM method by first providing support for government and investors to identify optimal investment targets.

An optimal sequential investment decision model for generation-side energy storage projects in China considering policy uncertainty

Energy storage systems (ESS) are crucial for addressing the intermittent nature of renewable energy, and improving the flexibility of power systems. However, the uncertainties in the investment decision process pose a challenge for investment evaluation of ESS. This study develops a sequential investment decision model for ESS projects based on real options, aiming to derive the optimal investment timing and value of the project under electricity price and subsidy policy uncertainties. Considering the policy uncertainty caused by the possible retraction or provision of subsidies, sequential investments under four subsidy policies of stable, retraction, provision, and transformation are analyzed separately. The model is empirically and simulatively analyzed using a generation-side ESS project in Qinghai Province, China, as an example. The results show that: First, the sequential investment strategy promotes earlier project deployment compared to the lumpy investment strategy. Second, stochastic provision of subsidies incentivizes investment, but stochastic retraction of subsidies is a greater disincentive to investment, whereas stable subsidy policies provide the best incentives. However, local subsidies still need to increase to 0.15 yuan/kWh to trigger investment. Third, under subsidy recovery uncertainty, excessive subsidy levels discourage investment; meanwhile, under subsidy provision uncertainty, low subsidy levels become almost incentive-less.

Financial Tax Management of International Energy Storage and Transportation Project Tight Consortium

Financial Tax Management of International Energy Storage and Transportation Project Tight Consortium

A two-stage decision framework for GIS-based site selection of wind-photovoltaic-hybrid energy storage project using LSGDM method

To alleviate the instability of renewable energy generation and reduce the cost of energy storage, a wind-photovoltaic-hybrid energy storage project that combines hydrogen storage and electric thermal storage has been developed. Selecting the appropriate location is essential. Therefore, a two-stage decision framework is proposed to select the optimal site. In the first stage, geographic information system is used to assess the suitability of the study area and identify potential locations. In the second stage, the large-scale group decision-making method is employed for further evaluation. Considering the uncertainty of information, the probabilistic linguistic term sets are used to describe evaluation information. Then, experts are clustered via transitive closure algorithm, the weights of the experts and the subgroups are calculated according to the similarity and the importance of experts, and the size of subgroups, respectively. Furthermore, the weight of the criteria is calculated by maximum deviation method. Finally, the improved tomada de decisaointerativa e multicritévio method is used to rank the feasible sites. To verify the practicability of the method, an empirical study is conducted in Inner Mongolia Autonomous Region. Through sensitivity and comparative analyses, site A3 is identified as the optimal location, which facilitates the layout of wind-photovoltaic-hybrid energy storage projects.

Optimal siting of shared energy storage projects from a sustainable development perspective: A two-stage framework

The rapidly increasing installed renewable energy capacity has drawn greater attention to energy storage technology in China. However, the commercial implementation of energy storage is constrained by several obstacles. One potential solution to overcome these constraints is the shared energy storage model. The optimal location layout plays a crucial role in addressing the strategic decision problem of sustainable development. Therefore, a two-stage multi-criteria decision-making model is proposed to identify the optimal locations of shared energy storage projects in this work. In the first stage, the power attraction model is established to determine the macroscopic layout of shared energy storage. In the second stage, a large-scale group decision making (LSGDM) framework is developed to select the optimal micro location. The empirical study conducted in China reveals that Shandong, Henan, and Hebei provinces exhibit greater power flow attraction, from which eight alternatives are selected as site preferences and evaluated by twenty experts. Based on the improved EDAS method, the evaluation score function values of the eight alternatives are 0.497, 0.5, 0.476, 0.499, 0.507, 0.477, 0.506, and 0.498, respectively. Specifically, A5 in Rao Yang County, Hengshui City and A7 in Qing Long Manchu Autonomous County, Qinhuangdao City are preferred locations. Furthermore, the dependability and stability of the model are illustrated through the sensitivity analysis and comparative analysis. This model not only assists in determining the layout of shared energy storage but also contributes to the theoretical study of geographic information system and LSGDM.

Energy storage: Status and future perspective in Arab countries

AbstractIn this paper, the present status of energy storage implementation and research in Arab countries (ACs) is investigated. The different technologies of energy storage are reviewed then projects and capacities of installed or planned energy storage systems in the ACs are summarized based on published literature. In ACs, the installed and planned capacity of pumped hydro storage is 4365 MW, while for battery storage it is 5597 MW. No compressed energy storage projects are installed or planned in the near future. Green hydrogen as a fuel is planned in Egypt, Algeria, and Morocco. Renewable energy as a main employer of energy storage is predicted for the next 30 years; similarly, energy storage capacity is forecasted for the next 30 years. To enhance energy storage implementation it is recommended to include energy storage in all new commercial renewable energy projects. In addition to creating a regulatory framework that encourages the development of energy storage schemes. To advance research in the energy storage, modeling and simulation of energy storage systems in residential, commercial, and industrial sectors are recommended. In addition, cold energy storage for cooling and air‐conditioning using phase change material to be investigated.

Optimal investment decision of agrivoltaic coupling energy storage project based on distributed linguistic trust and hybrid evaluation method

Photovoltaic (PV) power generation is becoming a good solution to meet energy demand. However, centralized PV production sites may pose a threat to industrial land or agricultural land. To solve the energy-environment-land conflict, agrivoltaic coupling energy storage (AVCES) projects become a feasible new land use model. The investment decision of AVCES project is a multi-criteria decision problem (MCDM). Therefore, this paper firstly constructs an evaluation index system containing four criteria: resources, economy, social, environment and ecology. Secondly, the subjective weights of each indicator are determined based on the distributed linguistic trust model and the cloud model, and the objective weights are determined based on the cloud model and the integrated determination of objective criteria weights (IDOCRIW) model. Subjective and objective weights are combined based on game theory. Finally, the TODIM model is used to get the optimal choice among multiple schemes. After the case study, the applicability and stability of the proposed framework are validated, and the research results will provide good reference values for the investment decision of AVCES projects.

Synergy scenario for renewable energy production, CO2 and H2 storage in the Baltic offshore structure

CO2 Capture, Transport, Use and Storage (CCUS) is one of the core technologies to mitigate climate change. New techno-economic and techno-ecological concept of a synergy of CO2 geological storage (CGS), CO2 use, hydrogen (H2) production from different eco-friendly renewable energy recovery technologies and underground H2 storage (UHS), which we call here Geological Power Bank (Geo-PB), in Cambrian Deimena Formation sandstones in different compartments of the E6 structure offshore Latvia is presented for the first time. A five-phase circular economy concept of E6 geological structure energy and CO2 storage hub was developed in this study. The workflow is techno-ecological, eco-friendly, self-supporting, cost-competitive, and economically feasible. It consists of (1) CO2 transport by ships to the rig, (2) CO2 injection for CGS and CO2 Plume Geothermal technology (CPG), (3) H2 production, (4) Geo-PB, and (5) H2 transport by the same ships to the customers. The concept is supporting a win8 situation - innovative elements of techno-ecological synergy in one site: (1) CGS, (2) CPG, (3) solar energy, (4) wind energy, (5) sea currents energy, (6) H2 production (7) Geo-PB and (8) H2 transport to consumers. The proposed cycle is closed, demonstrating the principles of circular economy, which will increase the total efficiency of the concept. CGS and CPG are planned in the E6-A compartment of the E6 geological structure with an average CO2 storage capacity of 365 Mt in an optimistic approach and Geo-PB is planned in E6-B with an H2 storage capacity of 119 kt.The Baltic offshore scenario is ambitious and innovative, proposed new technologies, synergy with renewable energy (geothermal, solar, wind and sea current), large storage capacity, including CO2 storage and use captured by a CCUS clusters of emission sources from energy production, cement industry and bio-emissions from Estonia, Latvia and Lithuania. The concept aimed to decrease the artificial impact of climate change by avoiding CO2 emissions to the atmosphere and implementing circular economy principles. It will increase public and policymakers’ acceptance of new underground CO2 and energy storage technologies. The proposed synergy solution for CGS and energy storage projects will make such a business economically feasible and attractive for investors. Our study demonstrates a new era, the next generation of cost-competitive, self-supporting conceptual techno-ecological examples of a possible synergy of storage concepts with renewable energies combined using circular economy approaches.

Modelling and optimization of shallow underground thermal energy storage

Shallow geothermal reservoirs are excellent candidates for low-enthalpy energy storage, and can serve as heat batteries providing constant discharge of base heat, as well as rapid discharge of heat in periods of high demand. Recharging can be done by pumping down hot water, heated using excess heat from e.g. waste incinerators. In addition to having a very low carbon footprint, such systems also require limited surface infrastructure, and can easily be placed near or under the end-user, such as below residential buildings. The geological setting is typically complex, with horizons, faults, and intertwined patterns of natural fractures, and the nearwell region is often hydraulically fractured to enhance inter-well communication. Therefore, in order to fully utilize the potential of shallow geothermal heat storage, numerical simulations are imperative. In this work, we show how to practically model such systems, including generation of computational grids with a large number of wells and fractures, numerical discretizations with discrete fractures, and complex storage strategies with multiple wells working together under common group targets. We also discuss how adjoint-based methods can be used to tune model parameters (e.g. well injectivities, rock properties, and hydraulic fracture conductivities) so that the model fits observed data, and to find well controls (e.g. rates and temperatures) that optimize storage operations. The methodology is demonstrated using one artificial and two real underground thermal energy storage projects currently under development, and we highlight important challenges and our suggested solutions related to each of them. Thematic collection: This article is part of the Earth as a thermal battery: future directions in subsurface thermal energy storage systems collection available at: https://www.lyellcollection.org/topic/collections/thermal-energy

Underwater Drones Promote Sustainability of Offshore Natural Resources Exploitation

_ This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper OTC 32481, “How Underwater Drones Can Promote the Environmental Sustainability of Offshore Natural Resources Exploitation,” by Giovanni Massari, Cristina Marras, SPE, and Francesco Cavallini, Saipem. The paper has not been peer reviewed. Copyright 2023 Offshore Technology Conference. Reproduced by permission. _ The goal of the complete paper is to offer an overview of underwater intervention/inspection drones (UIDs) and provide the necessary elements to take full advantage of this technology, supporting environmental sustainability of future offshore projects and activities. The investigation provided in the complete paper explores conventional applications for oil and gas and extends to future energy, mining, and CO2 capture and storage projects. UID Technology Subsea robotics is rapidly evolving from conventional remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) to services delivered by a new generation of vehicles with hybrid capabilities. UIDs present distinct advantages and technical challenges, including the following: - UIDs are battery-powered robotic solutions capable of interchanging data through water communication modems (acoustic or optical). - UIDs have hybrid AUV and ROV capabilities; as an ROV, they can be operated by a pilot using a remotely controlled console that also can be located onshore, while, as an AUV, they can execute complex tasks or missions automatically. - Underwater drones can efficiently and safely operate in total darkness, with poor or no communication links. For this reason, UIDs typically are provided with an advanced set of sensors (sonar, cameras, and lasers) capable of providing information about the vehicle’s orientation, altitude, depth, and the absolute or relative position. - UIDs can be deployed from a topside offshore facility, launched from shore, or deployed inside a subsea garage. Although these descriptions underline some of the technical challenges related to UIDs that require additional steps to achieve full maturity, the use of UIDs nevertheless clearly presents advantages that are almost independent from the application scenarios, including reduced operational risks, intervention time, CO2 emissions, and cost. Environmental Sustainability of Offshore Projects The notion of environmental sustainability embodies maintaining an ecological balance in the natural environment for the benefit of current and future generations; promoting responsible and respectful management of natural resources; avoiding their depletion and the degradation of the environment; and extending the concept to encompass social, human, and economic considerations. Robotic subsea technology offers pivotal assistance in accessing critical information so that all stakeholders can execute and operate offshore projects responsibly, satisfying essential projects’ commercial, environmental, and social criteria. The authors write that, while offshore companies and technology suppliers have already jointly explored the introduction of UIDs within conventional integrity-management campaigns of oil and gas fields, confirming the benefits of this choice for derisking and cost efficiency, a deep analysis on how UIDs can be used to boost environmental sustainability of complex offshore projects is still missing. Their work investigates relevant examples in this domain.

Hierarchical optimal scheduling method for regional integrated energy systems considering electricity-hydrogen shared energy

Shared energy storage is widely recognized as an energy hub for the coordinated operation of regional integrated energy systems (RIESs). Multi-energy systems (MESs) share centralized energy storage to store excess renewable energy sources (RESs). This paper proposes a novel energy-sharing framework considering hydrogen trading, which is suitable for residential, industrial, and commercial RIES structures. Shared energy storage operator (SESO) promotes hydrogen energy transactions by formulating time-of-use (TOU) hydrogen prices. The proposed hydrogen energy trading method can be regarded as a master-client structure, and a hierarchical optimal scheduling method based on the Stackelberg game relationship is designed. Finally, a case study is performed based on an optimal scheduling algorithm combining particle swarm optimization (PSO) and mixed integer linear programming (MILP). The cases show the electricity‑hydrogen shared energy storage mechanism in RIESs can improve the RESs utilization rate and effectively reduce the operating costs of each system. Moreover, compared with RIESs with a single centralized electric energy storage, the TOU hydrogen price mechanism can further lower the energy prices and improve the economy of the RIES. The cases show that hydrogen energy sharing reduces the operating cost of RIES by 9.96% and increases the regional energy utilization rate by 2.97%. And the shared energy storage business model can satisfy the economy of both SESO and RIES. It confirms the rationality of the electric hydrogen shared energy storage project.

Techno-economic feasibility of two onshore wind farms located in the desert area: a case study

ABSTRACT Onshore wind energy technology has the potential to solve major energy and climate change problems through clean generation, as well as drive economic development and job creation. This study aims, through a technical and economic analysis, to reveal the wind potential of two terrestrial sites of the province of Tantan, characterized by an average wind speed higher than 5 m/s. Technical analysis is performed to estimate annual energy production, while the economic viability of these two onshore wind farms is discussed using the Present Value Cost method. The results recorded over a period of 5 years of wind speed data gave power density values of 74.62 W/m2 for Tantan−1 and 149.89 W/m2 for Tantan−2. Accordingly, with a commercial wind turbine named NORDEX N90, the production cost in Tantan−1 and Tantan−2 for 1 kWh is approximately 3.45 US Cent/kWh and 3.87 US Cent/kWh, respectively. To confirm these results, a comparative analysis with the costs of the various national technologies for the production of thermal or solar energy was carried out. The calculations showed very competitive costs for the two sites studied at the national level, knowing that, this region will host one of the world’s largest green energy export and storage projects.

Systematic Investigation of Environmental Impact between Lithiumion Battery and Sodium-ion Battery

This paper provides significant new insights into Sodium-ion and Lithium-ion batteries’ environmental impact. Lithiumion batteries are used in commercials on a large scale. However, lithium-ion batteries are used less than sodium batteries. Considering that Sodium-ion batteries technology is not as advanced as Lithium. Sodium-ion batteries may have the potential to replace Lithium-ion batteries. According to commercial data, batteries are widely used in different areas because of their significant use in the renewable field, such as electric cars or energy storage projects. The battery has become a significant component in the renewable area. In that case, we will discuss which kind of battery will be better, especially the environmental impact. If the public cloud analyzes which battery is better, we will benefit from replacing batteries. First, the paper will discuss the environmental impact of five aspects: water pollution, Solid pollution, Raw material, Recycling, and Gas emissions. Second, according to the five aspects, we will use method AHP to analyze which battery is better. After AHP, the conclusion of which batteries are better regarding environmental impact will be given.

Economic evaluation of variable renewable energy participation in U.S. ancillary services markets

Variable renewable energy (VRE) is not yet meaningfully participating in U.S. ancillary services (AS) markets. VRE participation in AS markets could provide a new source of revenue for VRE resource owners to offset declining energy and capacity values and a new tool for power system operators to address emerging system constraints. This paper uses a price-taker dispatch model and historical prices to estimate the economic value of standalone and hybrid (battery-paired) VRE participation in AS markets, from the resource owner and electricity system perspectives, in each of the seven U.S. independent system operator and regional transmission organization (ISO/RTO) markets where ancillary service prices are set. Across ISO/RTO markets, average (2015–2019) simulated incremental revenues from power regulation market participation were $0.0–2.9/MWh (+0–15% of revenue without participation) for standalone VRE owners and $1–33/MWh (+1–69%) for hybrid VRE owners. However, ISO/RTO reserve markets are relatively thin and have the potential to become saturated by energy storage projects that are currently in ISO/RTO interconnection queues. In most markets, standalone and hybrid VRE could provide power regulation reserves during periods with high power regulation prices, suggesting that VRE participation in AS markets could have high system value. The analysis highlights the relevance of separate upward and downward power regulation products and indicates that ISOs/RTOs might consider initially focusing on enabling hybrid VRE provision of AS.