One of the things I've loved (and been challenged by) is the constantly moving landscape in energy storage. Solar, and wind, for a while at least had the certainty of ROCS and FITs, Energy Storage looked for long term contracts, though never on the scale of ROC/FIT, but now we see this prevalence of merchant risk, trading and flexible projects and assets. At Hyperion we work with Energy Storage developers and manufacturers across the UK, Europe and North America and are seeing pockets of activity and growth, and expect to see those pockets and opportunities expanding.
What has become abundantly clear is that the UK’s battery storage sector has been adapting to market changes. There has been a shift away from long-term contracts providing specific services, and we are seeing a shift towards more flexible projects that are able to react to the situation at a specific time, opening up opportunities in trading electricity and responding to the market. We are also starting to see a lot more co-location of technologies, including electric vehicle charging, and small-scale generation as the benefits are better understood, indicating an evolution in the use-cases and business models underpinning these projects.