Battery storage is emerging as an essential component of America's energy picture.
Text of Battery Storage: The New Energy Frontier
Battery Storage: The New Energy Frontier
Market opportunity According to GTM Research, distributed energy storage to reach 720 MW by 2020 Equals a 34% cumulative annual growth rate Some experts contend actual capacity may be much higher Bloomberg finds that batteries address 93% of energy storage Global energy-storage market estimated to be $30 billion 101 battery-based energy storage systems in operation 53 battery-based energy storage systems under construction
Substantial growth based on current trends EIA forecasts solar and wind power capacity to grow 59% from 2012-2030 EPAs target to reduce CO2 emissions by 30% suggests more battery-based energy storage likely Renewable energy growth Source: Dennis Schroeder/ NREL
Utility-scale solution -- Advancion AES recently proposed a 100 MW storage project in Northern Ireland (possibly operational by Q2 2015) Currently deployed in Ohio, West Virginia, Chile AES claims over 1,000 MW of energy storage in development Current and future deployments Source: AES
Utility-scale solution -- Advancion Systems cost about $1 million per MW with a 4- megawatt- hour discharge capability Industry experts see cost as lower than was thought possible Battery-based grid energy storage using lithium-ion batteries Can tap into capacity from natural gas, solar, and wind power sources Developed by global energy storage leader The AES Corp.
Residential solar market Leading residential, commercial, and utility-scale solar developer Partnering with KB Homes to include battery storage with all solar homes in California SunPower Source: SunPower
Residential solar market Piloting energy storage projects in Germany and Australia Partnered with ZBB Energy Corp. to demonstrate combining PV with zinc bromine flow battery storage SunPower
Commercial solar market DemandLogic solution provides Tesla Motors battery backup Available to new solar customers in select California, Connecticut, and Massachusetts markets SolarCity Source: SolarCity
Options besides lithium-ion Notrees Battery Storage Project is countrys largest battery storage project at a wind farm Provides storage for 153 MW wind farm 24 other lead acid energy storage projects in operation throughout the U.S. 4 projects under construction Lead acid batteries Source: Duke Energy
The Foolish conclusion Beginning of a battery boom The next phase of the renewable energy revolution is the adoption of battery-based energy storage Battery storage addresses a major drawback of utility-scale solar and wind power: periods of intermittent generation Battery storage also benefits residential and commercial consumers Only obtainable in select markets, residential and commercial battery storage offerings will undoubtedly reach widespread availability in domestic and global markets
The Foolish conclusion Be bullish on battery-based storage Bloomberg sees batteries as the fastest growing energy storage solution 53 out of 57 projects in development are using batteries The U.S. currently has 238 operating storage systems 101 use batteries
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