09-24-2019, 04:17 AM
Quote:In 2018, global energy storage deployments grew 147 percent year-over-year to reach 3.3 gigawatts, or 6 gigawatt-hours, according to Wood Mackenzie Power & Renewables. That’s nearly double the average 74 percent compound annual growth rate for the industry from 2013 to 2018. In fact, last year’s deployments made up more than half of the total amount of storage deployed in the past five years, “indicating an inflection in storage demand,” Ravi Manghani, WoodMac’s head of storage research, said when the research was published in April...From Science Project to Money Maker: Energy Storage Hits Inflection Point | Greentech Media
The reason most energy storage projects these days are driven by solid financial returns is because there are more and more ways to generate revenue. In PJM and other markets around the globe, utilities and independent power producers (IPPs) are increasingly seeing storage as the most economic way to capture payments for ancillary services. Capacity markets and stacked services are also making large energy storage projects financially attractive. For example, Wärtsilä, Energy Storage, Solar and Integration worked with the IPP AltaGas to install and operate a 20-megawatt battery in the wake of the Aliso Canyon gas leak in California...
Cheaper batteries alone are not enough to maximize the business case and financial returns of large energy storage projects. Sophisticated energy management software (EMS) is required to automate battery charge and discharge in the most economically optimized way possible.