The rise of energy storage will enjoy a similarly meteoric trajectory to that enjoyed by solar PV deployment in the past and could reach 305GWh of installations by 2030, BNEF has predicted.

Panellists at the opening day of Solar and Off-Grid Renewables Southeast Asia event in Bangkok warned that investors who come on board quickest are going to gain a huge advantage as solar-plus-storage starts to become viable at scale.

While energy storage can be considered “critical” to Australia’s transformation to a distributed, low carbon energy mix, a lack of investment and planning for the technology could have negative consequences for the network.

We often hear about California’s leading position in solar and latterly in energy storage. Perhaps lesser known than direct policy support for energy storage and renewable technologies is the way California’s network operator (CAISO) is starting to reconfigure how it procures demand response, with a positive impact for energy storage – and particularly behind-the-meter assets, as Ted Ko, policy director of Stem, explains.

Melbourne-headquartered mining giant BHP, in partnership with the Rocky Mountain Institute (RMI), has projected 500MW of potential capacity combining solar, wind and energy storage at its old North American mining sites.

Sunrun CEO Lynn Jurich has said that using behind-the-meter systems to provide grid services could be “extremely valuable in certain targeted ways” as the company rolls out energy storage systems into key regional markets.

The US national Energy Storage Association (ESA) has advocated that the nation should aim to deploy 35GW of energy storage by 2025, claiming it could result in US$4bn of network cost savings and generate 167,000 jobs.

A representative of National Grid, the UK’s transmission system operator (TSO), has said that energy storage will be “integral” to the network’s flexibility strategy – while urging developers not to rely solely on early frequency regulation contracts.

While decreases in costs continue to make energy storage more and more competitive, financial advisory and asset management firm Lazard has highlighted just how variable project economics can be, citing examples of US projects with 9%, 11% and 21% IRR (internal rate of return).

German renewables funder Capital Stage is lining up its first battery storage move, but stressed it could be some time before business models are mature enough.