ENERGY STORAGE
Heightened activity around energy storage reflects the growing importance of the technology to meet clean energy goals. Increasing levels of renewable energy, electrification of buildings and transportation, as well as… Read the full report …...
Heightened activity around energy storage reflects the growing importance of the technology to meet clean energy goals. Increasing levels of renewable energy, electrification of buildings and transportation, as well as retirement of fossil fuel generators are driving growth in battery storage installations.
Energy storage plays a key role in managing the pace of the transformation of the electric system. The versatility of the resource has allowed for multiple grid roles, including supporting transmission reliability.
As the transition to a carbon-free grid relies on the integration of diverse renewable energy resources, the need for long-duration energy storage has become more essential. Storage systems capable of supplying energy for 10 hours or more, or adequate stored energy to provide firm capacity to the grid have been garnering attention to accommodate renewables and support grid stability.
Across the U.S., policy makers, regulators, and utilities are increasingly viewing energy storage as imperative to enable a transition to greater use of renewable energy, electrify buildings and transportation, and enhance grid reliability.
Energy storage is evolving to be an essential part of the energy transition given its ability to provide power on demand and optimize grid performance amid the proliferation of intermittent renewable energy resources.
U.S. President Joe Biden signed the Infrastructure Investment and Jobs Act into law on Nov.15, unlocking $62 billion for U.S. Energy Department initiatives, including revitalizing domestic manufacturing, expanding access to energy efficiency and clean energy, modernizing the power grid, and advancing next-generation technologies. Among the major provisions, the legislation allocates $6 billion for a Civilian…...
Energy storage is becoming an increasingly important part of the power mix to accommodate the exponential growth of intermittent renewables required to accomplish ambitious decarbonization targets set by U.S. states and utilities.
States are exploring ways to utilize the multiple benefits that energy storage provides to the grid, from enabling the increased penetration of renewable resources and reducing dependence on emitting generation, to bolstering reliability.
Energy storage initiatives are moving forward at a swift pace to complement clean energy policies as batteries can facilitate the integration of diverse generation technologies and address grid stability. With improving economics, there is a growing discussion on the role of energy storage as a grid asset to foster reliability and optimize renewables to meet ambitious clean energy goals.
Amid gigawatt-scale goals for energy storage, U.S. state policies are evolving to create more opportunities for the technology. Storage is poised to play an integral role in the changing resource mix as more states pursue zero-carbon goals, driving the need for innovative policy initiatives and programs that optimize renewable energy sources and enhance grid reliability.
In a major victory for the energy storage industry, a federal court affirmed that battery installations connected to the distribution grid must have the opportunity to access wholesale power markets. The move comes as federal regulators are examining the growing interest in hybrid resources, with battery technology seen as an important tool in integrating other resources to the grid. The affirmation bodes well for expanding wholesale market access to distributed energy resources.
