March 10, 2021 - 11:00 AM - 12:30 PM Eastern Time (ET)

Energy Storage

Event Description:

Increased storage capacity is widely seen as a key condition to balance rapidly growing levels of variable renewable energy resources in electricity systems. The number of jurisdictions – both in the United States and elsewhere – that has adopted storage deployment targets and mandates is likewise expanding. Still, the implications of energy storage on the economic efficiency of the electricity system remain less understood, as are the role of and need for private incentives to operate and invest in grid-scale energy storage technologies. In this webinar session, organized in collaboration with the MIT Energy Initiative Electric Power Systems Low Carbon Center, two experts will offer insights from recent research on the economics of energy storage and take questions from the audience.


Ömer Karaduman

Ömer Karaduman completed his Ph.D. in Economics at MIT in 2020, and got his bachelor’s degree in Economics from Bilkent University in 2014. His research focuses on the transition of the energy sector towards a decarbonized and sustainable future. In his research, he utilizes large datasets by using game-theoretical modeling to have practical policy suggestions. Ömer’s Ph.D. research focused on the transition to a low carbon electricity system at the wholesale level. He is currently working on using large-scale energy storage as a transmission asset, the impact of large EV uptake on the wholesale electricity market, and carbon pricing in the electricity industry.
Richard Schmalensee

Richard Schmalensee served as the John C Head III Dean of the MIT Sloan School of Management from 1998 through 2007. He was a member of the President’s Council of Economic Advisers from 1989 through 1991 and served for 12 years as Director of the MIT Center for Energy and Environmental Policy Research. Professor Schmalensee is the author or coauthor of 11 books and more than 120 published articles, and he is co-editor of volumes 1 and 2 of the Handbook of Industrial Organization. His research has centered on industrial organization economics and its application to managerial and public policy issues, with particular emphasis on antitrust, regulatory, energy, and environmental policies. He has served as a consultant to the U.S. Federal Trade Commission, the U.S. Department of Justice, and numerous private corporations.
John Parsons

John Parsons is a Senior Lecturer at MIT’s Sloan School of Management and Associate Director of the MIT Center for Energy and Environmental Policy Research (CEEPR). His research focuses on the valuation and financing of investments in energy markets, as well as the problems of risk in energy and environment markets. Recent publications have touched on the value of changing the utilization of transmission to maximize the value of hydro assets and expanded penetration of renewables, the value of investments in life extensions of nuclear power plants, the economics of new microreactors, and the impact of decarbonization on generation assets in the U.S. midcontinent.