The Department of Energy (DOE) is organizing another Green Energy Auction (GEA) in the 4th quarter of this year, this time targeting the inclusion of Integrated Renewable Energy and Energy Storage Systems (IRESS).
“Currently, the DOE, in collaboration with development partners, is studying the design and
economic viability of IRESS,” said Energy Undersecretary Rowena Cristina Guevara.
IRESS is an advanced energy solution that merges renewable energy (RE) technologies with various energy storage systems (ESS). This approach combines renewable sources with storage solutions, including batteries, flywheels, and pumped storage hydropower, to enhance energy efficiency and reliability.
By incorporating energy storage, renewable energy plants could efficiently manage their operations, storing surplus energy produced during peak times and deploying it during periods of high demand, thus minimizing the need for additional grid capacity.
In the forthcoming months, the DOE will publish the indicative timeline for GEA-4 activities by issuing the Notice of Auction (NOA).
“By combining renewable energy (RE) and energy storage, IRESS enhances the stability and reliability of the energy system, enabling a more consistent and efficient supply of power,” said DOE.
With the increased entry of RE due to GEA, the department is also looking into inserting liquefied natural gas (LNG) technologies in the upcoming GEA-4. In lieu of this, the DOE would oversee a range of studies and simulations to analyze the impacts on price, dispatch, contracts, energy, and capacity.
