Is energy storage a key component of Energy Equity?

Conclusion and policy implications Energy equity is a critical component in resilient, secure, and stable social, economic, and political systems. Long ignored, the U.S. federal government and many states are adopting legislation and policy measures to advance energy equity. Energy storage is a key component in many of these measures.

Does storage reduce social welfare?

The cases in which storage reduces social welfare can be unexpected, insomuch as adding firms to an imperfectly competitive market typically improves allocative efficiency. Moreover, these findings are different from those of Sioshansi et al. (2009) who also examine storage use with responsive prices, but do not find welfare losses.

Why is energy storage important?

Recent developments in the electricity industry have increased interest in energy storage. This includes the introduction of markets that provide prices that signal the value of many of the services that storage can provide, and the ability of storage to ease the integration of renewables into power systems.

Can strategic storage yield social welfare losses?

By definition, δC,C cannot result in social welfare losses compared to not having storage, since δC,C = 0 is feasible and δC,C is welfare-maximizing. To show that strategic storage cannot yield social welfare losses, note that δS,C > 0 if and only if: p 2 0 − η p 1 0 = W ′ 0 > 0.

Does long-duration energy storage affect energy equity policy?

Long-duration energy storage (LDES; i.e., ES greater than the current approximate limits of 4–6 h, and extending to seasonal storage) is a critical component for supporting 100-percent clean energy or 100-percent renewables goals. Thus, LDES policy can have a direct impact on energy equity policy, and vice versa.

How does the energy sector affect underserved communities?

Underserved communities are disproportionately impacted by acute pollutants from operation of the energy sector compared to other communities. For instance, people of color are 1.5 times more likely to live in areas with poor air quality compared to white citizens ( American Lung Association, 2021).