Grid Storage, a Potential Game-Changer for the Renewable Energy Sector

TORONTO - April 11, 2013 - PRLog -- The emergence of grid storage is expected to facilitate greater renewable energy generation and promote the evolution of a smarter electrical grid. Storage facilities can have multiple applications that range from distributed energy storage or commercial and industrial energy management to wholesale energy arbitrage. While some studies have reported on the feasibility and economics behind the various grid storage technologies such as lithium ion or compressed air energy storage, critical questions, such as the following, remain unanswered:

Which technologies are best suited for each storage application?
How much of each technology will be built to meet the needs of each storage application?
Are there any opportunities to combine applications in order to improve the economics of grid storage?
How will installation costs change over time for each grid storage application?

In a recently published report, ClearSky Advisors provides not only a comprehensive analysis of key grid storage technologies and applications but also a detailed forecast for their growth. Overall, our findings suggest a potential increase in US grid storage power capacity to between 30,000-47,000MW by 2022 with an associated value of $70-90 billion.

While overall numbers can be useful, actionable insight is obtained by segmenting this growth by both technology and ultimate application. Using ClearSky Advisors’ proprietary Dynamic Forecasting Tool, near-term and longer-term market opportunities were identified including those grid storage applications that will experience the most growth and the technologies that will make the greatest contribution to each application. More importantly, these multi-application facilities will primarily adopt battery-based systems such as lithium ion and zinc bromine. As the market matures, we anticipate that longer-term growth opportunities will transition towards storage facilities with individual applications while maintaining utilization of battery-based technologies. Growth in this area will start in 2019 and continue out past 2022.

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At your request we would be happy to send you the 2013 US Grid Storage Executive Summary, for your review and consideration.

Contact:

Jon Winberg
ClearSky Advisors
phone: 647-909-4930
email: jwinberg@clearskyadvisors.com
web: www.clearskyadvisors.com