Renewable energy storage systems capacity to reach 45.1 GW in a decade
Energy storage systems for renewable energy are set to reach a new high of 45.1 GW over the decade spanning 2015 to 2025. This is according to the latest Navigant Research.
A report by Navigant Research titled Energy Storage for Renewable Integration gives projections for the future of energy storage systems for renewable energy integration (ESRI), which are designed to mitigate renewable energy stability issues from such sources as solar and wind. The report indicates that these two sources of renewable energy have experienced the fastest growth of all the sources of their kind in the past few years.
Navigant Research reports a slight intake of solar and wind energy into the grid with little impact on the centralized grid mechanics. This is bound to change in future as the rate of increase of wind and solar energy generation to the grid rises to new levels. Such an increase may cause a host of issues involving the stability of the grid system.
The report fronts energy storage systems as one of the main remedies of the grid's variability problems. By levelling out this variability, energy storage systems help to bring stability to the grid.
Navigant Research’s projection of a 45.1 GW installation capacity for the renewable energy market in the next decade is therefore not surprising.
“The business cases for ESRI will vary significantly depending on the geographic location, market structure, target customers and type of renewable energy being integrated,” said Anissa Dehamna, Navigant Research's principal research analyst. “While this diversity presents challenges in the short term, there is enormous potential for companies able to make sense of this complexity and offer solutions that the market demands,” Dehamna added.
Navigant Research’s report also projected a decrease in the cost of advanced batteries, which has been prohibitive to industry growth.
Published by Green Jobs Online - 23rd June 2016