Project description
Navigating challenges in large-scale energy storage for renewable integration
To mitigate renewable energy’s intermittent nature, investment in large-scale energy storage (LES) is necessary. However, concerns arise regarding whether such investments might saturate the market. Moreover, even if profitable, do the interests of private storage investors align with the public goal of achieving net zero emissions? If not, what incentive schemes can address these discrepancies? How will these dynamics evolve across Europe until 2050? Supported by the Marie Skłodowska-Curie Actions (MSCA) programme, the GREENER project aims to answer these critical questions by examining self-cannibalisation (how increasing LES deployment could reduce its own profitability), cross-cannibalization (how rising renewable energy use affects storage revenues), and their evolution from the present day to 2050 in Europe.
Objective
Up to $3 trillion must be invested in large-scale energy storage (LES) to deal with the intermittency of renewable energy and achieve net zero by 2050. Yet, critical questions remain open: 1) Will this substantial investment in LES cannibalise its own market? 2) Even if profitable, does the self-interest of private storage investors align with the public goal of achieving net zero? If not, what incentive schemes can be designed to address these two problems? How will these problems evolve from now to 2050 across Europe? This research project will answer these questions, first investigating: (i) the self-cannibalisation (i.e. how the increasing LES deployment can reduce profitability in its own market); (ii) the cross-cannibalisation (i.e. how the increasing renewable penetration will affect storage revenues); and (iii) how the trajectory of these two aspects will evolve from present days until 2050 in Europe. Then, policy recommendations and an incentive scheme will be designed to support merchant investments in this context.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.1.2 - Marie Skłodowska-Curie Actions (MSCA)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-TMA-MSCA-PF-EF - HORIZON TMA MSCA Postdoctoral Fellowships - European Fellowships
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-MSCA-2023-PF-01
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
20136 Milano
Italy
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.