August 17, 2017 Read More →

On the Blogs: ‘For Utilities, the Storage Future Is Here’

Utility Dive:

America’s energy storage market just had its biggest first quarter in history, and is growing exponentially with GTM Research projecting it to reach roughly 2.6 gigawatts (GW) in 2022 – almost 12 times total 2016 market size, with surging deployment in the utility-scale storage projects.  

This growth opens up tremendous opportunity for storage developers worth $3.2 billion in 2022 and $11 billion cumulatively from 2017-2022, according to GTM Research, while also opening up incredible opportunity for utilities seeking to integrate renewables, smooth ramping requirements, and optimize their system to boost grid reliability.

Today, most utility-scale storage projects are in the 10-megawatt (MW) and greater range, but that’s changing fast. Innovative new designs and technologies have made storage – especially when paired with solar photovoltaics (PV) – fully dispatchable and cheaper than building a new natural gas-fired peaker plant, today. Navigant Research forecasts hybrid energy storage system (combined storage and generation) capacity will grow from 78.6 megawatts in 2017 to 2.1 GW in 2026, meaning for utilities, the storage future is here.

America’s energy storage market just had its biggest first quarter in history, and is growing exponentially with GTM Research projecting it to reach roughly 2.6 gigawatts (GW) in 2022 – almost 12 times total 2016 market size, with surging deployment in the utility-scale storage projects.  

This growth opens up tremendous opportunity for storage developers worth $3.2 billion in 2022 and $11 billion cumulatively from 2017-2022, according to GTM Research, while also opening up incredible opportunity for utilities seeking to integrate renewables, smooth ramping requirements, and optimize their system to boost grid reliability.

Today, most utility-scale storage projects are in the 10-megawatt (MW) and greater range, but that’s changing fast. Innovative new designs and technologies have made storage – especially when paired with solar photovoltaics (PV) – fully dispatchable and cheaper than building a new natural gas-fired peaker plant, today. Navigant Research forecasts hybrid energy storage system (combined storage and generation) capacity will grow from 78.6 megawatts in 2017 to 2.1 GW in 2026, meaning for utilities, the storage future is here.

More: Is the future finally here for utility-scale solar-plus-storage?

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