Veras pointed out that energy storage, once financially unviable, is now becoming a reality due to technological advancements and supportive policies, including resolutions promoting storage in solar projects. A notable achievement is the upcoming launch of the first four-hour energy storage system Contact online >>
Veras pointed out that energy storage, once financially unviable, is now becoming a reality due to technological advancements and supportive policies, including resolutions promoting storage in solar projects. A notable achievement is the upcoming launch of the first four-hour energy storage system linked to a solar project, set to be operational by mid-2025. This system will participate in the spot market without a power purchase agreement (PPA), showcasing the growing confidence in the Dominican energy sector.
Additionally, Veras explained that the recent updates in regulations by the CNE, including Resolution CNE-AD-0005-2024, create more favorable conditions for concessions related to electricity generation projects that incorporate battery energy storage systems (BESS). He also reaffirmed the National Energy Plan (PEN), which aims for 25% of the country’s energy generation to come from clean sources by 2025 and 30% by 2030.
Santos highlighted the importance of energy storage in the Dominican Republic''s energy transition at the Dominican Republic Energy Storage Summit, organized by his department in collaboration with Huawei and the Latin American Energy Organization (Olade).
The stakeholders estimated that by 2028, the Dominican Republic will need to deploy between 250 to 400 MW of energy storage systems. Their projection is based on the country''s current renewable energy market. According to statistics from the International Renewable Energy Agency (IRENA), the Dominican Republic’s total installed renewable energy capacity was 2.2 GW as of 2023.
“Solar energy is not generated at night or during times of low solar radiation, which requires resorting to storage to cover the peaks in demand that occur during those hours, when renewable generation is lower,” he told the summit''s attendees.
But he added that the Dominican Republic has a lot of work to do to implement energy storage technology. It must create a strong regulatory environment to support deployment in an economically efficient manner. Santos said his department is currently working on reforming the regulatory system, together with the National Energy Commission (CNE) and the Superintendency of Electricity (SIE).
Santo Domingo – The executive director of the National Energy Commission (CNE), Edward Veras, announced during Energyear Caribe 2024 that the CNE’s board of directors approved the modification of Resolution CNE-AD-0004-2023, which raises the storage requirements for renewable energy projects. The new regulation, officially issued after completing administrative steps, will require projects of more than 20 megawatts to include at least 50% battery storage capacity.
Veras stressed that energy storage is now a critical public policy, supported by President Luis Abinader, who considers this measure essential to ensure the success of the country’s energy transition.Likewise, the private sector’s response has been very positive. 80% of the concessions granted already include storage systems, demonstrating developers’ commitment to this regulation. "Storage is crucial to integrate more renewable energies efficiently and maintain the stability of the electricity system," Veras said.
The official also highlighted the collaboration between the public and private sectors as essential factors in advancing the energy transition. "Government institutions are aligned and working in a coordinated manner to facilitate this transition," he added.
Regarding the financial challenges, Veras pointed out that to reach the 30% renewable energy goal by 2030, at least US$5.4 billion in investments will be needed. To this end, he proposed creating a pool of energy projects to attract financing on a larger scale. In addition, he stressed the importance of maintaining a clear and efficient regulatory framework to continue generating confidence among investors.
"The challenge is financial, not technical. To meet our goals, we must mobilize the necessary capital, and this will only be possible with the collaboration of all the actors in the sector," he said nally, Veras emphasized that energy planning has been essential to consolidate the Dominican Republic as a leader in the transition to renewable energies. "Our energy plan has given investors the necessary confidence to see the country as a safe destination for their projects, which has allowed us to move towards a cleaner and more efficient energy matrix," he concluded.
The executive director of the CNE addressed these issues during the opening of the second day of Energyear Caribe in an #OnetoOne entitled "Continuing Energy Planning: New Challenges," moderated by Catalina Barrera, editor-in-chief of Review Energy.
Energyear Caribe is the regional summit event for the energy sector. It discusses challenges and opportunities in renewable energy, energy transition, and emerging technologies.Held on September 18 and 19 at the Hotel El Embajador, this year’s event consolidated its role as a key platform to foster collaboration between the public and private sectors, attracting investors, developers, and key players in the sustainable development of energy in the Caribbean and Latin America.
The energy storage units would be of good service in rural areas, areas most susceptible to outages because of insufficient distribution lines (one line) to cover electric service when interrupted.
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