The Fair Trading Commission (FTC) has developed a framework for a four-year energy storage pilot project that could see qualified applicants receiving an energy storage tariff (EST) for up to ten years and the data used to inform the design of future energy storage programmes
“As a result, the Government of Barbados has identified energy storage as an appropriate means of mitigating the effects of these intermittent resources,” the FTC said in the EST decision which it said was developed following a period of consultation with stakeholders from March 31, 2023 to April 21, 2023.
“To effectively implement policy as required, the Commission has developed an EST framework for storage that utilises a four-year pilot project aimed at gathering relevant data on the functioning of storage systems and their ability to provide services on the Barbados electricity grid. The pilot project will focus on the use of battery energy storage systems of four-, three- and two-hour durations, with a total allocated capacity of 50 megawatts (MW).”
As such, the regulator has determined for a two-hour battery up to 25 kilowatt (kW), the energy storage rate will be set at $0.675 per kWh and $56.78 per month.
For a three-hour battery between 25kW and 1MW, the tariff rate will be $0.404/kWh or $33.95 for the month, and for systems between 1MW and 10MW the rate is $