As renewable energy like solar power is growing in the US energy storage is becoming more important. It provides an energy hedge against fluctuation on the grid and fluctuation of energy prices. Thankfully energy storage is stepping up with more battery and other energy storage systems being deployed.
The US Energy Storage Association (ESA) reported another record quarter in the second quarter of 2016 with 41.2 megawatts of newly deployed energy storage. Overall the US is now on track to deploy 287 megawatts of energy storage in 2016.
That’s according to the latest US Energy Storage Monitor, the quarterly publication from ESA and GTM Research. That’s an increase of 126 percent over the first quarter of the year, according to the report. Still, on a year-over-year basis energy storage deployments were up just 1 percent but the report said that the market saw a lot of geographic and market-segment diversification.
“This quarter marked several storage firsts, such as the first grid-scale project in MISO and a large solar-plus-storage at a municipal utility in Ohio,” said Ravi Manghani, GTM Research’s director of energy storage. “Additionally, the industry received a big boost from the White House, with recently announced public and private commitments that will result in 1.3 gigawatts of new storage deployments and, more importantly, spur a billion dollars in storage investments.”
Energy storage also is a dynamic market. The largest new energy storage installation, a front of the meter system, isn’t in California or PJM territory (the Mid-Atlantic region), rather it’s in MISO’s territory in Indiana. That said, California is expected to resume its place as the nation’s top energy storage market as several megawatts of energy storage are slated to be installed in record time to help ease Aliso Canyon-related capacity issues in Southern California, the report said.
Residential and commercial energy storage systems, also known as behind the meter systems, grew 66 percent on an annual basis thanks to improving economics and energy storage adoption in new state markets.
“The industry continues to surpass milestones, fueled by increased value and market opportunities, as well as plummeting system costs,” said Matt Roberts, executive director of the Energy Storage Association. “After record-breaking deployments in 2015, the energy storage industry is on pace to grow another 30 percent this year – increasing grid flexibility, efficiency and resiliency along the way.”Tweet