Port of spain new energy storage policy

How can ports reduce energy costs?

ESSOP has explored two ways in which ports can minimize their energy costs by using energy storage: • Optimising how to use PV solar generation to offset grid electricity. The wholesale price of energy varies every half-hour, and on a time-of-day tariff this variation is passed onto users.

Can in-port batteries reduce energy costs?

The ability to use energy storage as a means of minimizing the port’s cost of procured energy is a key advantage of in-port batteries. ESSOP has explored two ways in which ports can minimize their energy costs by using energy storage: • Optimising how to use PV solar generation to offset grid electricity.

Why is energy storage a critical port function?

Ensuring availability of these electrical resources to meet loads which are intermittent and uncertain is becoming a critical port function. It requires investment in multi-vector energy supply chains, energy storage in ports and their associated energy management systems.

Should a port use battery storage?

In many cases, however, battery storage will be beneficial: allowing the port to optimize its procurement of electricity under a time-of-day tariff, to reduce its peak load on the grid connection and to optimise use of on-site renewable generation, notably PV solar.