Working Group on Business Models for Energy Storage

Working Group on Business Models for Energy Storage

Scope and Description

This WG came to being at the 2011 IEEE Power & Energy Society General Meeting has been active since. The objective of the working group has been to engage various stakeholders and promote a better business case for grid-scale energy storage. The WG’s scope of work is:

  • Focus on economics: building business cases and performance-based economic evaluation
  • Reviews of global energy storage project-development cases and new technology development
  • Performance-based economic evaluation on emerging grid applications (e.g., ancillary service, transmission system optimization, microgrid design, smart grid)
  • Market design, policy, and regulatory recommendations to accommodate energy storage and its myriad applications

Leadership Team

Chair: Dr. Yury Dvorkin, New York University,

Past Chairs: Dr. Ramteen Sioshansi, The Ohio State University,; Dr. Hamid Zareipour, University of Calgary,; Dr. Ning Lu, North Carolina State University, and Dr. Pengwei Du, ERCOT,


Since its inception in 2011, the WG has organized a number of panel sessions in IEEE Power & Energy Society General Meetings and at T&D meetings. Starting in 2015, the WG has regularly offered tutorials on energy storage economics at IEEE Power & Energy Society General Meetings and T&D meetings. These tutorials have attracted over 300 attendees thus far. The WG has proposed a tutorial and will also organize a sponsored panel session at the 2019 IEEE Power & Energy Society General Meeting.

Recent Activities:

  • We hosted a panel at the 2021 IEEE PES General Meeting. “Energy Storage Resource Participation in Electricity Markets” is scheduled for Tuesday evening, July 27, 2021, at 7- 9 p.m. ET. The panel chair is George Gross, University of Illinois at Urbana-Champaign, and the co-Chairs are Farrokh Rahimi, OATI, and Michael Kintner-Meyer, PNNL.
  • We finished working on the energy-storage modeling paper that documents the state-of-the-art capabilities and discuses future research directions, which would address current capability gaps. Here is the accepted paper:
  • We hosted a WG meeting in August 2021 that discussed our future work and plans, to some extent, but mainly focused on organizational matters, e.g. electing a new secretary, which is work in progress.

Get Involved

You can join the WG and get involved by contacting Yury Dvorkin, the WG secretary.