A new feasibility study from DNV - Energy Systems, commissioned by Subsea7, considers the business case for offshore energy storage. Stian Sande, our Energy Transition Strategy Director, said: "This study provides valuable insights and demonstrates how co-located offshore energy storage can contribute to a better-balanced and resilient grid, while enhancing the business case for offshore wind farms." Read the full study report, here: https://dnv.social/6gu #makepossible
Negative electricity prices are a growing challenge for offshore wind farms. Can energy storage unlock new revenue streams? DNV recently conducted a feasibility study for Subsea7, evaluating the business case for offshore energy storage. The study compared subsea hydro-pneumatic storage with conventional lithium-ion systems in a co-location scenario with offshore wind farms. 📊 Key insights: • Offshore wind often generates excess electricity, leading to negative market prices • Integrating storage can enable offshore wind projects to participate more effectively in energy trading and ancillary service markets • A 50MW storage system with a 4-hour duration, co-located with a 1000MW wind farm, can significantly improve financial viability by leveraging market volatility Stian Sande, Energy Transition Strategy Director at Subsea7, said: "This study provides valuable insights and demonstrates how co-located offshore energy storage can contribute to a better-balanced and resilient grid, while enhancing the business case for offshore wind farms." By optimizing storage participation across different market segments, offshore wind projects can strengthen their business case - supporting both profitability and the energy transition. ╰┈➤ Want to learn more? Read the full report here: https://dnv.social/6gu