In an Energy Storage News article, Navigant Research discusses why energy storage deployments are expected to increase over the coming decade
Last year broke records for utility-scale and behind-the-meter (BTM) energy storage deployments in the US.
In an Energy Storage News article, Navigant Research’s Ricardo Rodriguez, research analyst, explained that energy storage deployments show no sign of slowing down, thanks in part to utility-scale energy storage procurement.
“As local governments, capital markets, and other stakeholders are organizing around climate change, many power and utility companies are establishing their own clean energy goals,” Rodriguez said.
According to the article, in 2019, nearly 50 US electric power companies committed to significant carbon reduction goals including Duke Energy, Xcel Energy, and Arizona’s Arizona Public Service (APS). To achieve these goals, power companies and utilities will increasingly rely on energy storage to assuage volatility in wholesale markets as well as support additional renewables on the grid.
In order to evolve with the market, Rodriguez said industry stakeholders need to recognize the trend of large solar plus storage projects driving growth in the utility-scale energy storage market.
“Energy storage vendors should design their products for seamless integration with solar PV plants, which are often connected with a DC-coupled architecture for maximum efficiency,” Rodriguez said. “Systems integrators and project developers should look to partner with solar PV providers early on to evaluate the potential to add storage to any existing or newly planned projects.”