The role of energy storage companies

Why is energy storage important?

Energy storage is critical for mitigating the variability of wind and solar resources and positioning them to serve as baseload generation. In fact, the time is ripe for utilities to go “all in” on storage or potentially risk missing some of their decarbonization goals.

How can energy storage help the electric grid?

Three distinct yet interlinked dimensions can illustrate energy storage’s expanding role in the current and future electric grid—renewable energy integration, grid optimization, and electrification and decentralization support.

What is the future of energy storage?

Storage enables electricity systems to remain in balance despite variations in wind and solar availability, allowing for cost-effective deep decarbonization while maintaining reliability. The Future of Energy Storage report is an essential analysis of this key component in decarbonizing our energy infrastructure and combating climate change.

Why do we need a co-optimized energy storage system?

The need to co-optimize storage with other elements of the electricity system, coupled with uncertain climate change impacts on demand and supply, necessitate advances in analytical tools to reliably and efficiently plan, operate, and regulate power systems of the future.

What drives energy storage growth?

Energy storage growth is generally driven by economics, incentives, and versatility. The third driver—versatility—is reflected in energy storage’s growing variety of roles across the electric grid (figure 1).

How has technology impacted energy storage deployment?

Technological breakthroughs and evolving market dynamics have triggered a remarkable surge in energy storage deployment across the electric grid in front of and behind-the-meter (BTM).