The return of investment is an important metric about how attractive an investment may be. However this is an important note that energy storage usually does not generate electricity savings directly, but allows the transport or trading of electricity. This usually results in storage not having a high ROI like solar investments, for example.
The investment by the Northern Lights JV owners Equinor, Shell and TotalEnergies is 7.5 billion NOK. This includes the award of €131 million (ca 1,5 billion NOK) from the Connecting Europe Facility (CEF) funding scheme, approved by the European Commission last year.
The storage NPV in terms of kWh has to factor in degradation, round-trip efficiency, lifetime, and all the non-ideal factors of the battery. The combination of these factors is simply the storage discount rate. The financial NPV in financial terms has to include the storage NPV, inflation, rising energy prices, and cost of debt.
The Norwegian government is providing substantial financial support, covering approximately 80% of the cost for the Phase 1 of the Northern Lights project. The phase two expansion of Northern Lights received €131 million from the Connecting Europe Facility (CEF) in June 2024.
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Energy return on investment (EROI) is a key metric of the viability of energy resources. Many studies have focused on EROI at point of extraction, resulting in deceptively …
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SSE has approved final investment for the 100MW Derrymeen battery storage project in Northern Ireland. The facility will provide 200MWh of storage to balance the grid and …
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This study examines the net energy performance of nine decarbonisation global energy transition scenarios until 2050 by applying a newly developed systemwide energy …
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SSE plc has announced a final investment decision to construct a new 100MW Battery Energy Storage System (BESS) in County Tyrone, Northern Ireland. The Derrymeen facility, …
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Additionally, Northern Lights will store CO 2 from the Hafslund Celsio waste-to-energy plant in Oslo, as part of the Longship project. Equinor is already one of the largest CCS …
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May 2023 - Jul. 2024Research on Life Cycle Cost and Investment Return Mechanisms of Novel Energy Storage Systems Date: July 15, 2024 Team Leader, Completed and was responsible …
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The recently signed Northern Lights 2 project Financial Investment Decision (FID) also came about after the consortium reached a milestone decision. This is the cross-border …
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Abstract Energy storage systems (ESSs) are widely recognized as a possible solution for integrating the increasing renewable energy penetration in electrical grids. …
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SSE has revealed the final investment decision (FID) for the Derrymeen battery energy storage system (BESS), a 100MW facility to be constructed in County Tyrone, Northern …
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Aiming at the problem of how to measure the investment of energy storage systems under the Energy Performance Contracting(EPC), this paper proposes a …
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Explore the Return on Investment (ROI) of energy storage systems for commercial and industrial applications. Learn how factors like electricity price differentials, government …
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