People have known for decades that solar and wind energy are cleaner and healthier than energy produced by fossil fuels. But utilities and consumers have sometimes expressed concerns about the variability and dependability of these renewable energy sources. Those concerns are starting to fade with the emergence of game-changing energy storage technologies. According to a new white paper released today by Environment America, the rapid growth of less expensive wind and solar energy, combined with plummeting costs for energy storage, has led to a six-fold increase in energy storage capacity (excluding pumped hydropower) over the past decade.
New York Gov. Andrew Cuomo this month announced an ambitious plan for deploying energy storage, a technology that can mitigate renewable power’s most persistent problem: how to use it when the sun isn't shining or the wind isn't blowing.
“This is the clearest and most ambitious policy signal the energy storage market has seen on the East Coast,” said Jason Burwen, policy and advocacy director of the Energy Storage Association, a trade group for the industry.
The 50MW portfolio is now fully operational and includes a 40 MW facility in Glassenbury in Kent which features 3,640 battery modules with an installed energy capacity of 27.65MWh, and a 10 MW installation in Cleator in Cumbria,which consists of 900 battery modules with an installed energy capacity of 6.97MWh.
Together they represent the largest portfolio of utility-scale battery energy storage systems connected to the UK grid. The Cleator and Glassenbury sites secured two contracts with National Grid in August 2016 for battery energy storage systems to provide Enhanced Frequency Response (EFR) to the UK system operator.
As the cost of global renewable energy projects declines, Navigant Research anticipates the worldwide revenue from energy storage for renewables integration (ESRI) will exceed $23 billion by 2026, with utility-scale and behind-the-meter applications expected to show the strongest growth.
Solar energy has reached grid parity in several locations around the globe, the firm concluded, and no longer requires policy incentives to incentivize deployment in many markets. Even though energy storage costs are also declining, they remain a challenge.
But while utility-scale renewable prices are experiencing bigger price declines, peak shaving and incentive programs specific to energy storage are helping drive the behind-the-meter segment.
National Grid, a US transmission company, and the Department of Energy's Pacific Northwest National Laboratory have entered into an agreement to work together on research in the areas of transmission grid modernization and energy storage technologies.
The electricity industry is undergoing sweeping changes, including evolving customer expectations, proliferation of renewable and distributed energy resources, and state energy policies that are affecting what the transmission grid is being asked to do.
New Delhi: Large-scale adoption of energy storageis expected to attract investment over $3 billion in the next three years, industry body India Energy Storage Alliance (IESA) said in a statement on Wednesday.
“These opportunities are expected to attract investment in 2-4 giga factories for advanced li-ion batteries in India, attracting over $3 billion investments in next 3 years. Already, over 1 GWh of annual assembling capacity is being set up for converting imported li-ion cells into battery modules by various Indian companies,” IESA said.
Texas’s energy story may have been historically dominated by oil and gas, but that story is slowly beginning to change. The Lone Star State is inundated with renewable energy resources, with the largest wind and solar energy potential in the US. Indeed, Texas reached its 2025 Renewable Portfolio Standard goal of 10,000MW of new renewable energy capacity in 2010, 15 years early, and has consistently achieved green energy targets ahead of schedule ever since.
Following an impressive £30m investment raise from Zouk Capital and partnership from estate agents Alder King, Bath-based renewable energy firm Green Hedge is poised to expand the production of its battery-energy storage units – with hopes to develop, build and operate them across the UK.
Having been subject to discussion for years within the academic sphere, energy storage projects have become a topic of high interest to energy sector focused investors in recent years.
Decreasing cost curves, changing regulatory environments within the energy markets such as deregulation and shifts away from subsidised renewables to market pricing modes, and evolving software capabilities, are increasing investor confidence in energy storage investments and result in increased demand for investment opportunities.