InvestorsHub Logo
Followers 28
Posts 1769
Boards Moderated 0
Alias Born 10/26/2000

Re: None

Tuesday, 09/11/2018 9:10:44 AM

Tuesday, September 11, 2018 9:10:44 AM

Post# of 1083
Energy Storage Grows By 200% In US
https://cleantechnica.com/2018/09/10/coal-killing-energy-storage-grows-by-200-in-us-ct-exclusive-interview/
September 10th, 2018 by Tina Casey

File this one under O for Oops, Never Saw That One Coming. President* Trump campaigned on a promise to save coal jobs in the US, but he missed that thing about the potential for explosive growth in the energy storage market. Now the chickens are coming home to roost, and that spells bad news for fossil fuels.

In the latest development, the energy research firm Wood Mackenzie Power & Renewables (formerly GTM Research) reports a respectable — ok, so super impressive — year over year growth for Q2 energy storage deployments of 200% in the US.

the US Department of Energy has been vigorously promoting wind and solar grid integration. To accelerate the trend, the agency is pursuing energy storage along with smart grid technology. That includes small-scale, distributed storage as well as utility-scale, long duration storage.

That utility-scale angle is somewhere off in the future (currently, pumped hydro is the primary option), but the business sector is already leaning on small-scale batteries to ensure resiliency and reliability at individual sites. So, for that matter, is the Department of Defense.

Small-scale batteries are also streaming into the individual home market. Aside from the convenience of being able to keep the lights on whenever the grid goes down, there’s the necessity factor. More people are working from home and receiving health care at home, and can’t afford an outage of any duration.

200% Growth For Energy Storage
So, how to quantify this trend? Wood Mackenzie partners with the Energy Storage Association to produce a quarterly report called the U.S. Energy Storage Monitor. The latest report is just out and it’s a doozy. Here’s the rundown from Wood Mackenzie:

…156.5 megawatt-hours of energy storage were deployed in the second quarter of 2018, triple what was deployed in the second quarter of 2017. The residential segment led the way, growing tenfold year-over-year.

Not surprisingly, California and Hawaii powered the growth in residential energy storage. Hawaii established a 100% clean power goal back in 2015, and California lawmakers are also on track to establish a 100% goal for renewables.
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.