95% 5% 36%
23. 4 GW
1. 2 GW
40 MW Thermal
of a microgrid, along with
solar energy or combined
heat and power.
Cleantech Group reports
growing investment in energy storage in recent months.
By early December, investments for fourth quarter
2013 had already exceeded all of third quarter with
15 venture stage fnancing
rounds. The types of storage
technologies raising money
varied widely from batteries
to nano technologies to solar
thermal storage, according
to Cleantech Group.
“The door is open; storage
is now welcome,” said Chris
Shelton, President, AES Ener-
gy Storage, which has 174
MW of utility-scale storage projects operating in Chile and the
Storage takes several forms: batteries, thermal, pumped storage, ocean wave, fy wheel, compressed air, fuel cell. Batteries
continue to drop in price and rise in use. Navigant Research foresees the grid-scale battery energy storage market reaching $7.6
billion in 2017 and $29.8 billion by 2022.
Te Marriage of Solar and Storage
The renewables industry for years has discussed the value of pairing solar and energy storage. As we enter 2014, more and more
of these projects are coming online. Lux Research estimates this
market will grow to $2.8 billion from 2013 to 2018. Japan will lead
the way with 381 MW of storage paired with solar, Lux said, as it
grapples with high electricity prices and nuclear power concerns.
In Europe, Germany will follow developing about 94 MW of
solar-linked storage during the same period, said Lux. The U.S.
comes third in the Lux forecast, with about 75 MW.
As governments lend increasing support, the solar/storage
market could expand even more rapidly. Lux noted that Germany
is offering $67 million in subsidies for solar-tied energy storage,
and the U.S. Senate introduced a program to fund $7.5 billion in
new storage projects.
In the U.S., a lot of the storage activity is expected to occur in
California, where the Public Utilities Commission set a goal to
achieve 1. 3 GW by 2020.
The contribution of each energy storage technology to the overall
operational capability in the U.S. is shown in Figure 1. Credit: U.S.
Department of Energy.