Title: decarbonisinG the eneRgy systEm by incEntivising eNergy storagEs in the Right place
Funding body: The National Recovery and Resilience Plan (PNRR) - Mission 4 - 1.2 Funds for young researchers
Funding amount: €150.000
Project duration: 24 months (start date 1st January 2023)
Principal Investigator: Dr Iacopo Savelli
Project overview
Globally, up to $3 trillion must be invested in large-scale energy storages, which are a key enabler to reach net-zero carbon emissions by 2050, and the way we build this infrastructure can have a huge impact on whether the green transition will succeed or not, with severe economic, social, and environmental consequences in case of delay.
This project aims at:
demonstrating the carbon emissions savings possible by optimally locating and operating large-scale energy storages to avoid curtailment of renewables and additional fossil fuel generation;
assessing the potential benefit for society in terms of increased social welfare;
proposing policy recommendations and new incentive mechanisms to inform regulators and policymakers.
Deliverables
Location matters for large-scale energy storage policy: spillover effects for balancing costs and carbon emissions across Italy, Iacopo Savelli, David Howey, Thomas Morstyn, 2024, (Preprint) DOI: 10.13140/RG.2.2.30946.95686
An incentive scheme for storage investments to help reduce carbon emissions, Iacopo Savelli, Yuxin Xia, Thomas Morstyn, 45th International Association for Energy Economics conference, Istanbul , 2024