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Educating Entrepreneurs in Battery Storage Systems and Energy Markets
Abstract
Battery Energy Storage Systems (BESS) work by storing electrical energy during times of low demand and discharging said energy during times of high demand or for a specific ancillary service. Thus, establishing a small-scale enterprise to offer such ancillary service is becoming popular. At the same time, the utility gets benefitted as this lowers overall operating costs and reduces technical complexities. This Chapter illustrates the energy-based service as a business process with technical and financial aspects. Various factors that impact the BESS performance have been considered to develop various case scenarios. As a first, this chapter proposes a training program that can be utilized to educate prospective investors in this area. By completing the training program, the participants are expected to gain hands-on-experience in technical and financial operations.
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