Incorporating Renewables Into the Electric Grid: Expanding Opportunities for Smart Markets and Energy Storage   [open pdf - 974KB]

From the Document: "The cost of renewable energy has been quickly dropping and renewable energy generation has been rapidly growing in the United States, spurred by state and federal policies and technological advances. Moreover, projections going forward suggest ever increasing penetration of renewables into the electricity grid. The two most rapidly growing renewable energy sources, wind and solar, provide variable energy output that depends on the time of day, location, season, weather, and other factors. Integrating high levels of these renewables onto the grid will require a reimagining of the management of the grid. It will increase the demand for grid management services, opening up a new set of important opportunities for promising technologies and approaches. This report examines economic and technical considerations related to increasing integration of variable renewable energy resources onto the existing electric grid, which highlight the importance of emerging technologies and approaches in smart markets and energy storage that can help smooth this transition. Smart markets use new communications technologies to develop integrated approaches allowing for electricity demand to respond during times of high value. Energy storage technologies allow the temporary storage of electricity so it can be released during times of high value."

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