The global energy storage market is currently being driven by government investments, renewable energy policies, smart grid deployments, private capital, successful demonstration projects, and government backed research and development aimed at reducing the costs of energy storage technologies. In fact, progressive utilities across the globe are exploring the use of energy storage technologies to provide load shifting, reserve capacity, frequency regulation, renewable energy integration, substation back-up and storage, spinning reserves, and community energy storage solutions.
Utilities’ battle with peak demand and integration of distributed renewable energy resources could soon be over with the promise of the capacity of Energy Storage to alleviate the impact of both problems. Thus far, technology cost of the storage medium and intelligent dispatch of the storage resource are two primary factors that will have the greatest impact to the return on investment for energy storage. The needed infrastructure will be a combination of centralized intelligence employing real-time modelling and distributed intelligence making high-speed responses to local conditions.
With a hybrid architecture, the profits utilities and energy storage asset owners will reap through asset life, power quality, energy cost savings, and reduced infrastructure investments will be maximized.
If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.