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By 2050 solar and wind will supply almost half the world’s electricity, but it can’t happen without storage. The switch from an electricity system supplied by large fossil fuel plants that run virtually uninterrupted to a more haphazard mix of smaller, intermittent renewable sources needs energy storage to overcome two key hurdles: using power harvested during the day to supply peak energy demand in the evening and ensuring there’s power available even when the wind drops or the sun goes down.
The U.S. Department of Energy (DOE) recently helped unveil a new community of 46 smart townhomes in Atlanta which will serve as a living laboratory for DOE researchers to evaluate how homeowners are using energy in a real-world, smart home environment. This research is instrumental to understanding how emerging smart technologies and distributed energy resources can impact energy efficiency, energy management and resiliency. The Altus neighborhood, known as the Georgia Power Smart Neighborhood, is a set of townhomes on a microgrid that have been outfitted with solar photovoltaic panels, batteries, and state-of-the-art, grid-connective, energy-efficient building components and appliances.
UMass Dartmouth officials are touting a public battery storage system as the largest of its kind in Massachusetts, and citing its potential to control costs by releasing energy at peak usage periods when the price of electricity is the most expensive. With FirstLight, AMS and Eversource, the university on the South Coast recently launched the 520-kilowatt system, adding to an infrastructure there that already includes a 1.6 megawatt hour co-generation plant and 369 kilowatts of solar photovoltaic panels.
The falling price of renewable energy has been dominating the headlines, but more dramatic change is happening behind the scenes, where battery storage is disrupting the way utilities provide power. The change is driven not just by cheap renewables and cheap batteries, but by the electronics that link them together.
U.S. Senator Jeanne Shaheen (D-NH) has reintroduced the Clean Energy Grid Act. This bill would aim to strengthen US energy security, reduce pollution, increase electric reliability and spur job creation by improving the deployment of efficient and cost-effective energy resources, such as solar and wind power and energy storage.
U.S. Senator Jeanne Shaheen (D-NH) has reintroduced the Clean Energy Grid Act. This bill would aim to strengthen US energy security, reduce pollution, increase electric reliability and spur job creation by improving the deployment of efficient and cost-effective energy resources, such as solar and wind power and energy storage.
Significant expansion in energy storage markets is poised to occur against a backdrop of regulatory changes in federal and state incentive programs, cost improvements and advances in monetization of energy storage. These current and anticipated trends affecting the U.S. energy storage market will have a significant influence on how industry participants choose when, where and how to invest in and develop energy storage technology.
Energy storage installations around the world will multiply exponentially, from a modest 9GW/17GWh deployed as of 2018 to 1,095GW/2,850GWh by 2040, according to the latest forecast from research company BloombergNEF (BNEF). This 122-fold boom of stationary energy storage over the next two decades will require $662 billion of investment, according to BNEF estimates. It will be made possible by further sharp declines in the cost of lithium-ion batteries, on top of an 85% reduction in the 2010-18 period.
Brandeis University is launching a new energy storage project that is projected to save the campus upwards of $50,000 annually in electricity costs. The Massachusetts university is partnering with AMS and FirstLight Power to install and operate a 780-kWh battery-based energy storage system that will connect with the school’s electrical power system. By charging overnight when the price of electricity is at its lowest, the battery will be able to send electricity into Brandeis’ system during the day when prices peak – enabling the university to buy less electricity at the most expensive times.
Engie Storage has formalized a much-discussed but little-practiced revenue stream for energy storage projects: wholesale market value-stacking. Under a new product offering, Engie won’t just design, supply and operate energy storage plants for customers. The company will also pay developers upfront for dispatch rights to use their batteries in the ISO New England wholesale markets. This gives storage developers and their financiers an additional source of secure revenue, while shifting the tricky merchant risk onto Engie, which feels confident in handling it.
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