Scientific and technical terms
If you are not familiar with the electricity market terms listed below, we encourage you to explore them before continuing with the steps.
Ancillary services: Ancillary service includes anything that supports the stability and functioning of the power system. Services include power quality control, spinning reserve, replacement reserve and voltage support.
Application: The action of putting battery storage in an operation. When operations target different market segments, different applications are shaped. Applications of battery storage in this report includes: grid-scale, behind-the-meter, off-grid and mobility.
Business models: A business model is a rationale of how a business or organisation can create, deliver, and capture value within a specific economic, social and cultural context. The term business model is used to describe core aspects of a business. This among others includes purpose, customers, strategies, and operational processes.
Distribution System operator (DSO): DSO is a natural or legal person responsible for operating, ensuring the maintenance of the electricity distribution system. DSO often performs in a given area and ensures efficient interconnections with other systems for the long-term ability of the system to meet reasonable demands.
Energy arbitrage: Energy arbitrage is similar to load levelling, but is purely done to profit from price differences of electricity in the market.
Grid: An electrical grid is an interconnected network that allows delivering the electricity from producers to consumers. It consists of several components including: generating stations, high voltage transmission lines, and distribution lines.
Load levelling: Load levelling includes storing power during periods of light loading and low electricity prices and delivering it during periods of high demand.
Peak shaving: Peak shaving is similar to load levelling, but more focused on reducing peak demand.
Power quality control: Power quality involves voltage and frequency. Power quality control is to ensure a steady supply voltage within the acceptable range, and steady frequency close to the rated value.
Services: A specific operation within one application that results in doing a particular task. For example, battery storage can provide services such as back-up power at grid level, which means to use stored electricity during the time of electricity shortage.
Transmission System Operator (TSO): A TSO is an entity entrusted with the transmission of energy and electricity on a national or regional level. A TSO uses existing fixed infrastructure. Due to the cost of establishing a transmission infrastructure.