63% of companies on last year’s Fortune 100 list have announced they will try to get 100% of their energy from renewable sources. According to Bloomberg New Energy Finance, investments in clean energy exceeded $53 billion during the first quarter of 2017, including amongst them the 754 megawatt solar photovoltaic project in Mexico by the Italian energy operator Enel.
Energy storage technologies are of huge interest to energy operators around the world. According to Francesco Starace, chief executive of Enel, there is an enormous potential in the future of energy storage systems when they will play a big role after grids become digital. Enel is investing heavily in technologies that will aid the transition and are able to resolve specific operational challenges.
AGL Energy operates the world’s largest residential virtual power plant in South Australia, connecting more than 1,000 batteries in homes and businesses. According to Andrew Vesey, CEO of AGL Energy, the benefit is for all the parties involved. Homeowners get greater value for their investment in solar PV installation and batteries by optimizing the power they sell to the grid as opposed to the power they buy from the grid. There’s an advantage to distributors as well because they can postpone investments in the grid, and transmission networks’ benefit is less frequency events.
In Australia, energy storage will play an important role in the shift from coal to renewable energy.