05 Jan '18, 10am

Expect strong growth this year for commercial energy storage

Renewable generation deployments (primarily solar photovoltaic and wind farms) have grown substantially over the last decade and are forecast to continue growing well into the future. That's thanks to lower costs and technological improvements leading to increased power output. Indeed, the International Energy Association expects that average annual global renewable installations will be 80 percent higher than coal, oil and natural gas combined between 2017 and 2040. Separately, Navigant Research anticipates that wind and solar PV installations — both in front of and behind the meter — will surpass 1,500 gigawatts cumulatively between 2017 and 2026. This is good news in terms of sustainability and greenhouse gas reduction activities. However, this massive influx of variable generation capacity can present issues for outdated electrical grids around the globe. Energy storag...

Full article: https://www.greenbiz.com/article/expect-strong-growth-yea...

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