Energy security is a growing concern for economies across the world with electricity outages currently costing economies billions of dollars annually, driving electricity prices up. The US experienced nearly 700 power outages caused by severe weather between 2003 and 2012, costing the country up to US$70 billion annually.
Will the Indian battery market scenario witness a major change? As the power supply in the country continues to be unreliable, the role of batteries has to change from being an emergency back-up solution to a long time power/energy storage solution.
Two recent reports, one from credit rating and investment advisory agency Moody’s, the other from technology and tech market analysts Navigant Research, appear to show divergent views on the potential of distributed energy storage, including residential solar-plus-batteries.
Covering the energy storage market has been an interesting – if occasionally bumpy – ride so far and we can expect it to be an even more vibrant and action-packed space from here on in. From the top five most-read news stories to some great interviews via our regular guest blogs, we’ve rounded up some highlights from our year.
The US market for solar-plus-storage is predicted to grow more than twentyfold in the next three years, rapidly expanding from US$42 million in value this year to US$1 billion by 2018, according to GTM Research.
In the second part of his exploration of the areas of the world taking a lead in supporting the deployment of storage, Andy Colthorpe looks at Germany, Japan and Puerto Rico.
The growth of technologies such as PV and storage will hit utility company revenues to the tune of US$130 billion a year within a decade, according to a study published yesterday by management consultancy Accenture.
Dean Frankel of Lux Research blogs about utility Southern California Edison’s recent 235MW award of battery-based energy storage projects, a decision which surpassed their 50MW requirement by some distance and was described as “monumental” by one trade advocacy group when it emerged. Frankel examines the procurement in detail and looks at some of the questions that remain as-yet unanswered by the announcement.
German storage system manufacturer Sonnenbatterie, which announced this week the close of a US$10 million equity funding round, said it sees “high growth potential” for its products in Australia, the UK and Italy.
Japan-headquartered trading company Marubeni Corporation has entered into an agreement with EnerG2 to secure exclusive Asia distribution rights to the Seattle-based manufacturer’s advanced carbon materials, intended for energy storage devices.
