How to build a state-of-the-art battery energy storage market? Challenges, opportunities, and future directions

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dc.authoridBulut, Merve/0000-0002-4412-9071
dc.contributor.authorBulut, Merve
dc.contributor.authorOzcan, Evrencan
dc.date.accessioned2025-01-21T16:41:39Z
dc.date.available2025-01-21T16:41:39Z
dc.date.issued2024
dc.departmentKırıkkale Üniversitesi
dc.description.abstractThe leading role of the recent developments in critical energy storage technologies that will ensure universal energy access in a balanced and reliable way belongs to battery energy storage systems (BESSs), which are a robust stakeholder. The fact that these are regulated instruments in electricity markets, due to their technical nature when equipped with solid policies, can serve not only the purpose of carbon neutrality and net zero but also restrain the problems of warming and climate change. This study, which is an answer to the questions of how modern policies affect the markets and how the markets shape the policies, explores the strategic balance of BESSs in the role of price taker/price maker when it comes to market effect. Strategic balance encompasses not only the commercial maneuvers of policymakers within the liberalized electricity market, but also the decay of electrochemical accumulations throughout their practical life cycles, considering the utilization of industrial symbiosis practices to promote a circular economy for the disposal of end-of-life (EoL) electrochemical stacks. In this respect, this study, which establishes the policy-market-symbiosis triangle for BESSs, is the first to examine this perspective in the literature to the best of our knowledge. Each corner of the triangle systematically considers the role of policies, market dynamics, and symbiotic relationships in directing the deployment and use of these modern systems towards a common goal.
dc.description.sponsorshipCouncil of Higher Education [YOK]; National PhD Scholarship Program in the Priority Fields in Science and Technology [2023/1]; Scientific and Technological Research Council of Turkey [TBIbull;TAK]
dc.description.sponsorshipMerve Bulut, one of the authors, continues her doctorate process in the 100/2000 Doctoral Scholarship Program supported by the Council of Higher Education (YOK) and the 2211-C National PhD Scholarship Program in the Priority Fields in Science and Technology 2023/1 sup-ported by the Scientific and Technological Research Council of Turkey (TUEBIcenter dotTAK) . She would like to thank the two most important institutions of Turkey in terms of scientific research for their support to scientific research activities. The authors dedicate this article to Mustafa Kemal Atatuerk, the Great Leader who laid the foundations of a modern state in these lands 100 years ago, and to the Republic of Turkey that he shaped.
dc.identifier.doi10.1016/j.est.2024.111174
dc.identifier.issn2352-152X
dc.identifier.issn2352-1538
dc.identifier.scopus2-s2.0-85187555410
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.1016/j.est.2024.111174
dc.identifier.urihttps://hdl.handle.net/20.500.12587/24902
dc.identifier.volume86
dc.identifier.wosWOS:001211498400001
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherElsevier
dc.relation.ispartofJournal of Energy Storage
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_20241229
dc.subjectBattery energy storage systems; Electricity markets; Ancillary services; Policy analytics; Battery minerals; Recycling
dc.titleHow to build a state-of-the-art battery energy storage market? Challenges, opportunities, and future directions
dc.typeReview Article

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