The Multiple Role of Energy Storage in the Industrial Sector: Evidence from a Greek Industrial Facility

According to Directive 2012/27/EU concerning energy efficiency, emphasis should be given on the promotion of best energy practices in the industrial sector. Acknowledging this, the objective of the current study is to demonstrate the multiple role of industrial energy storage. More precisely, load management and arbitrage strategies are investigated through the development of a simulation algorithm. Considering also the characteristics of the Greek electricity market, results obtained from the application of the proposed algorithm to a Greek industrial facility designate the need for revising current electricity price rates and/or developing novel financial tools for the support of industrial energy storage.