SREC - Storage and Renewables Electrifying Cyprus
It is widely known that penetration of renewables in autonomous and/or weak grids is a difficult task because of the weak correlation between demand side and Renewable Energy Sources (RES) availability. Additionally it has been widely proved that storage of electricity can significantly improve the correlation between demand side and RES availability thus improving the possibility of RES penetration in the autonomous system. Several researchers and results from applications have shown that additional benefits exist when storage can be applied. These benefits include easier planning of the operation of the conventional power plants, maintenance scheduling, minimizing stand-by operation units.
Despite the above benefits there is not yet a coherent and streamlined frame for the promotion and support of storage applications especially under the current EC directives, in Cyprus. This definitely results in a bottleneck regarding the development and operation of storage systems and consequently forms a major roadblock for the development and penetration of renewables in Cyprus.
SREC project aims in building upon current knowledge on technological advances in storage and hybridization possibilities and technologies, as well as knowledge generated through dedicated research performed in the past e.g. projects, such as STORIES, an Intelligent Energy Europe project on “Addressing barriers to Storage technologies for increasing the penetration of Intermittent Energy Sources”. Moreover, applications of smart grid technologies can be found across the world, from isolated islands to very large integrated systems. For developed countries, smart grid technologies can be used to upgrade, modernize or extend old grid systems, while at the same time providing opportunities for new, innovative solutions to be implemented. For developing and emerging countries, smart grid technologies are essential to avoid lock-in of outdated energy infrastructure, attract new investment streams, and create efficient and ﬂexible grid systems that will be able to accommodate rising electricity demand and a range of diﬀerent power sources.