Energy Storage in the News

August 02, 2019

The Rapid Maturation of the U.S. Energy Storage Market

Significant expansion in energy storage markets is poised to occur against a backdrop of regulatory changes in federal and state incentive programs, cost improvements and advances in monetization of energy storage. These current and anticipated trends affecting the U.S. energy storage market will have a significant influence on how industry participants choose when, where and how to invest in and develop energy storage technology.

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Energy Storage in the News

July 31, 2019

Energy Storage Investments Boom As Battery Costs Halve in the Next Decade

Energy storage installations around the world will multiply exponentially, from a modest 9GW/17GWh deployed as of 2018 to 1,095GW/2,850GWh by 2040, according to the latest forecast from research company BloombergNEF (BNEF). This 122-fold boom of stationary energy storage over the next two decades will require $662 billion of investment, according to BNEF estimates. It will be made possible by further sharp declines in the cost of lithium-ion batteries, on top of an 85% reduction in the 2010-18 period.

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Energy Storage in the News

July 31, 2019

Charged Up: A Giant Battery will Help Brandeis Lower Electricity Costs, Aid in the Progress of Greener Power

Brandeis University is launching a new energy storage project that is projected to save the campus upwards of $50,000 annually in electricity costs. The Massachusetts university is partnering with AMS and FirstLight Power to install and operate a 780-kWh battery-based energy storage system that will connect with the school’s electrical power system. By charging overnight when the price of electricity is at its lowest, the battery will be able to send electricity into Brandeis’ system during the day when prices peak – enabling the university to buy less electricity at the most expensive times.

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Energy Storage in the News

July 31, 2019

Engie Will Pay Storage Developers for Wholesale Market Dispatch Rights

Engie Storage has formalized a much-discussed but little-practiced revenue stream for energy storage projects: wholesale market value-stacking. Under a new product offering, Engie won’t just design, supply and operate energy storage plants for customers. The company will also pay developers upfront for dispatch rights to use their batteries in the ISO New England wholesale markets. This gives storage developers and their financiers an additional source of secure revenue, while shifting the tricky merchant risk onto Engie, which feels confident in handling it.

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Energy Storage in the News

July 30, 2019

NYPA Announces $30M Energy Storage Demonstration Project Upstate

The New York Power Authority (NYPA) is moving ahead with its first large-scale energy storage project. NYPA announced it is establishing a 20-MW demonstration facility adjacent to one of its substations in Franklin County. The estimated project cost is almost $30 million, all of which has been approved by the NYPA board of trustees. The Franklin County demonstration site will include a one-hour lithium-ion battery system which can absorb excess power generation for later delivery. NYPA officials say its supports New York Gov. Andrew Cuomo’s renewable and energy storage mandates, including a goal of 3,000 MW in energy storage capacity by 2030.

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Energy Storage in the News

July 30, 2019

Senators Eye DOE Loan Program for Storage Technologies

Energy storage projects would qualify for financing from the Department of Energy’s loan guarantee program under bipartisan legislation introduced in the Senate last week. The bill, S. 2277, offered by Sens. Maggie Hassan (D-N.H.) and Susan Collins (R-Maine), is the latest addition to a smorgasbord of energy storage bills that have been put forward in recent months. DOE’s loan guarantee program continues to enjoy bipartisan support, and boosting storage technologies has seen growing interest among members in both parties.

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Energy Storage in the News

July 30, 2019

ENGIE Storage Providing Operating Software for 19-MW Solar+Storage Portfolio

ENGIE Storage will supply and operate a 19-MW/38-MWh portfolio of six energy storage sites that will contribute to the Solar Massachusetts Renewable Target (SMART) Program and participate in ISO-New England wholesale markets. The combined solar-plus-storage portfolio, developed and operated by Syncarpha Capital, a New York-based private equity firm, is the first utility-scale solar-plus-storage projects offering to benefit from ENGIE’s new integrated development, supply and services offering for wholesale market participation.

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Energy Storage in the News

July 30, 2019

Investing in Energy Storage for Solar, Wind Power Could Greatly Reduce Greenhouse Gas Emissions

At times renewable energy sources can produce more power than is needed, leaving some solar or wind energy to go to waste. This oversupply condition is a lost opportunity for these clean energy resources to displace pollution from fossil fuel-powered plants. But by creating complex models analyzing power systems in California and Texas, University of Michigan scientists show in a study that investing in batteries and other energy storage technologies can be economically viable with proper policy support. That, in turn, could radically reduce the emissions of greenhouse gases and increase the use of solar and wind energy.

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Energy Storage in the News

July 29, 2019

LG Chem Battery Systems Power Atlanta's First Smart Neighborhood

LG Chem and its project partners have officially opened Atlanta’s first Smart Neighborhood. Each of the 46 technology-enhanced townhomes in the Georgia Power Smart Neighborhood will be served by Georgia Power with power supplemented by individual rooftop solar installations and in-home battery energy storage. LG Chem is supplying two home battery systems to each of the townhomes in Atlanta. The latest residential energy technologies will deliver innovative and creative solutions to Georgia Power’s customers to more efficiently manage their energy needs.

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