While carbon tax and Carbon Capture Utilization and Sequestration (CCUS) have been grabbing headlines recently, the energy storage market in the US has been growing rapidly..The most recent US Energy Storage Monitor report, published by Wood MacKenzie and the US Energy Storage Association (USESA), shows a 240 per cent increase in storage capacity above the previous quarter (itself a previous record high)..A total of 476â¯megawatts (MW) of storage wereâ¯deployed in Q3â¯2020..“As noted in the research, the new recordâ¯for storageâ¯isâ¯not an anomaly but rather a sign of things to come as front-of-the-meterâ¯(FTM)â¯storage procurements, particularly in California, growâ¯dramaticallyâ¯in number and size,” the report said..The report indicates while theâ¯residential segment grewâ¯also,â¯the largestâ¯growthâ¯was in the FTMâ¯market segment.â¯Nearly 400 MW and 578 MWh were deployed in Q3, surpassing previous records of 133 MW and 296 MWhâ¯for this sector. Moreâ¯FTMâ¯storage was installedâ¯in Q3â¯thanâ¯was installed across all segments during any other quarter over the past sevenâ¯yearsâ¯.“Energy storage deployments continue to grow, despite the economic downturn and COVID-related slowdowns. The signs are pointing toward an unprecedented increase in energy storage in the coming months, moving us closer toward achieving our 100 GW by 2030 vision… energy storage is poised to continue this trajectory and enable a more resilient, efficient, sustainable, and affordable electric grid for all,” said USESA CEO Kelly Speakes-Backman..The US energy storage market is expected to grow 525 per cent by 2025..The U.S. battery energy storage market is set to grow from 1.2 GW in 2020 to nearly 7.5 GW (and 26.5 GWh) in 2025,â¯driven primarily by large-scale utility procurements. Solar-paired storageâ¯willâ¯account forâ¯aâ¯largeâ¯majority ofâ¯theseâ¯installations, and potentially the vast majority, as developers aim to capture value from the Investment Tax Credit, an article in Oil Price reported..Solar and wind technologies are currently leading the fossil-fuel alternative energy sources globally, and intermittency is the biggest obstacle. The sun simply does not shine around the clock—or the year—and the wind does not blow all the time. To make up for this—and to store excess electricity produced during peak sunshine and wind—battery storage has been touted as the simplest and most effective solution, said Oil Price..Energy Storage Canada (ESC) is the national association for the energy storage industry in Canada..A December 14 piece in ESC entitled “Time to unlock Canada’s energy storage potential” quoted Minister of Natural Resources Seamus O’Regan saying, “few areas offer greater potential for building that safer, greener more competitive future than energy storage.”.ESC released a valuation study this year with Power Advisory LLC, that concluded if at least 1,000 MW of energy storage were fully enabled in Ontario that ratepayers would enjoy $2-billion in net savings over the next decade..A recent National Research Council study found that in Ontario, storage investment would reduce emissions by 11% by 2030..Ken Grafton is the Western Standards Ottawa Bureau Chief. He can be reached at kgrafton@westernstandardonline.com
While carbon tax and Carbon Capture Utilization and Sequestration (CCUS) have been grabbing headlines recently, the energy storage market in the US has been growing rapidly..The most recent US Energy Storage Monitor report, published by Wood MacKenzie and the US Energy Storage Association (USESA), shows a 240 per cent increase in storage capacity above the previous quarter (itself a previous record high)..A total of 476â¯megawatts (MW) of storage wereâ¯deployed in Q3â¯2020..“As noted in the research, the new recordâ¯for storageâ¯isâ¯not an anomaly but rather a sign of things to come as front-of-the-meterâ¯(FTM)â¯storage procurements, particularly in California, growâ¯dramaticallyâ¯in number and size,” the report said..The report indicates while theâ¯residential segment grewâ¯also,â¯the largestâ¯growthâ¯was in the FTMâ¯market segment.â¯Nearly 400 MW and 578 MWh were deployed in Q3, surpassing previous records of 133 MW and 296 MWhâ¯for this sector. Moreâ¯FTMâ¯storage was installedâ¯in Q3â¯thanâ¯was installed across all segments during any other quarter over the past sevenâ¯yearsâ¯.“Energy storage deployments continue to grow, despite the economic downturn and COVID-related slowdowns. The signs are pointing toward an unprecedented increase in energy storage in the coming months, moving us closer toward achieving our 100 GW by 2030 vision… energy storage is poised to continue this trajectory and enable a more resilient, efficient, sustainable, and affordable electric grid for all,” said USESA CEO Kelly Speakes-Backman..The US energy storage market is expected to grow 525 per cent by 2025..The U.S. battery energy storage market is set to grow from 1.2 GW in 2020 to nearly 7.5 GW (and 26.5 GWh) in 2025,â¯driven primarily by large-scale utility procurements. Solar-paired storageâ¯willâ¯account forâ¯aâ¯largeâ¯majority ofâ¯theseâ¯installations, and potentially the vast majority, as developers aim to capture value from the Investment Tax Credit, an article in Oil Price reported..Solar and wind technologies are currently leading the fossil-fuel alternative energy sources globally, and intermittency is the biggest obstacle. The sun simply does not shine around the clock—or the year—and the wind does not blow all the time. To make up for this—and to store excess electricity produced during peak sunshine and wind—battery storage has been touted as the simplest and most effective solution, said Oil Price..Energy Storage Canada (ESC) is the national association for the energy storage industry in Canada..A December 14 piece in ESC entitled “Time to unlock Canada’s energy storage potential” quoted Minister of Natural Resources Seamus O’Regan saying, “few areas offer greater potential for building that safer, greener more competitive future than energy storage.”.ESC released a valuation study this year with Power Advisory LLC, that concluded if at least 1,000 MW of energy storage were fully enabled in Ontario that ratepayers would enjoy $2-billion in net savings over the next decade..A recent National Research Council study found that in Ontario, storage investment would reduce emissions by 11% by 2030..Ken Grafton is the Western Standards Ottawa Bureau Chief. He can be reached at kgrafton@westernstandardonline.com
