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ID:
192706
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| Summary/Abstract |
Energy storage reduces total operational costs and greenhouse gas emissions on the grid, while enhancing resilience and renewables integration. This makes energy storage a cornerstone in decarbonization planning. However, project developers building new storage systems may be motivated by energy arbitrage and other revenue streams rather than reducing emissions. Using outputs from ReEDS, which optimizes total system cost, this paper investigates the impacts of marginal storage deployment based on competing environmental, financial and grid system operator interests until 2050. Due to economic motivations, storage developers in some Western states may wait and peak new storage installations around 2030, which maximizes profits and reduces emissions. Conversely, new storage projects in Eastern states are more financially attractive today, but will likely increase short-term GHG emissions unless more renewable electricity is added to the grid, requiring policy-based intervention to achieve further long-term GHG emission reductions. The Inflation Reduction Act may reconcile these competing incentives, but more policies are needed to increase storage deployment while maximizing the emission reduction effect of adding storage to the grid. Midwestern and Southeastern states where storage projects could increase emissions will benefit from tax credits under the IRA. Additional credits to accelerate renewables deployment would reduce long-term emissions from storage and realize decarbonization targets faster.
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| 2 |
ID:
150814
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| Summary/Abstract |
We investigate energy security of the Association of Southeast Asian Nations (ASEAN) under the 4-A’s framework. The ASEAN Economic Community (AEC) agreement launched in 2015 renewed a regional focus on energy security and sustainability. We employ an analytic framework to quantitatively assess progress in different categories including availability, acceptability, affordability, and applicability. Key metrics include the documentation of CO2 emissions, energy access measures, and energy supply reserves from 2005–2010. We identify relevant energy indicators using high quality historical data from the IEA and World Bank. We find that ASEAN made little progress toward establishing energy security in the previous five-year planning period (2005–2010) as it regressed in most categories except applicability. Therefore, we suggest that increased development of renewable energy and energy efficiency technologies would move ASEAN in a positive direction toward achieving energy security and sustainable energy policy goals.
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