Solar+Storage is here, and it’s really happening. #SolarStorageIsHereToo
This week, through its #StorageIsHere campaign, the Energy Storage Association (ESA) is bringing attention to the fact that energy storage is here and it’s providing essential services and value to the grid across the globe. Many people already know that energy storage is here and that is has some pretty impressive successes. In fact, in 2015 the US deployed 240% more storage than in 2014. (You can read more amazing facts here). In just a few short days, thousands of companies and individuals have been participating in this important #StorageIsHere initiative, and sharing some great stats, videos, references, pictures, and much more, to highlight storage. And as many of us can see, Storage is definitely here… but what about solar+storage? It’s happening now and it’s helping drive the growth in the storage industry.
Exciting Times for Solar+Storage
For some time, I have had the view that the benefits of combining energy storage with solar generation will be THE application that pulls electricity storage into the mainstream and will dramatically drive demand for storage upward. The costs of solar have come down and energy storage costs are dropping as well. There are many available benefits of combining storage and solar, including:
- Firming variable solar generation
- Time shifting the solar generated energy
- Peak shaving (reducing demand charges)
- Resiliency – backup power
- Grid support (frequency and voltage)
We at DNV GL are working with manufacturers of key components and systems that integrate solar and energy storage to evaluate the technology and system performance. We are also working with financiers who are comfortable with financing solar and are interested in financing systems that combine solar and storage.
The combination of solar and storage has reached the point where equipment and systems are arriving from manufacturers and the financing is becoming available to support projects that are being deployed now—and will be at an increasing rate in the future.
These are dynamic times in the solar and storage industries and it is my strong belief that the deployment of combined systems will grow at a rate that will be faster than present expectations. It’s really happening. And it’s a really exciting time.