redT welcomes National Grid’s energy storage duration report rating
redT energy plc (AIM:RED), the energy storage technology company, welcomes the energy storage rating report issued by National Grid (LSE:NG) on 4 December 2017. In particular, the metrics used to define duration-limited storage in the upcoming UK Capacity Market auctions rate energy storage machines the highest at 96.11%.
redT’s vanadium redox flow machines store energy for over 4 hours and therefore, achieve National Grid’s full rating. This makes the Company’s flow machines comparable with pumped hydro storage. The report’s lowest rating of 17.89% goes to batteries that can only store energy for 30 minutes, effectively de-rating short-term storage technologies, such as Lithium, in the upcoming auction mechanism.
redT’s storage machines are flexible platforms which offer a full suite of services to the UK grid, such as time shifting solar generation, Frequency Response, Short Term Operating Reserve (STOR), and participating in the Capacity Market and Demand Turn Up. The Company’s solutions give customers greater flexibility control over when and how they deploy their stored energy and flexibility which hedges investment in the ever changing energy sector.
redT is pleased to have already connected the largest operating, containerised vanadium redox flow machine system in the UK to the grid at The Olde House agri-business in Cornwall. This 1MWh project is able to provide grid services at full rating, time shift renewable energy and provide trading services to the customer.
Scott McGregor, CEO, commented:
“We welcome yesterday’s report and believe this is a positive step forward for the UK’s energy storage industry, as it shows there is a growing need for more flexible storage options, such as our patented liquid energy storage machines.
We are proud to be the first Company to have deployed a fully flexible storage platform in the UK, which provides the full range of grid services and is potentially saving the customer up to 50% on grid imports during peak times. The UK market is a key of focus for us, as energy storage has become economic and we are now able to deliver attractive returns for our customers.”
- Read the “Duration-Limited Storage De-Rating Factor Assessment – Final Report” from National Grid
- Read redT press coverage on Energy Storage News “UK’s new de-rating factors a boost for long duration batteries and energy arbitrage“