|Interesting article about grid storage starting to take off. It should create quite a few opportunities for SiC. |
Now grid storage is poised to grow at a faster pace than the electric cars that made it cost-effective, and even faster than the renewables it will help to accommodate on the grid. Last year, Florida Power & Light completed a 10-megawatt grid battery hailed as the largest of its kind in the world; last month, FPL announced a battery project more than 40 times larger. Republican regulators in Arizona recently approved more than twice as much power storage in their state as the entire country installed last year; Hawaii is building more than three times as much, and California nearly five times as much. Tom Buttgenbach, the CEO of 8minutenergy Renewables, says his firm alone has signed contracts to build nearly a gigawatt of grid storage in the U.S., more than two thirds of the current nationwide total, in just the past four months.
Overall, the consultancy Wood Mackenzie expects U.S. storage additions to double in 2019, triple in 2020 and increase 13-fold over the next five years, which would store enough electricity to power more than 5 million homes. The forecasters at Bloomberg New Energy Finance expect more than $600 billion in global investment in battery storage by 2040. The storage boom, like so many green trends in America, first took hold in California, but Ravi Manghani, the head of energy storage research at Wood Mackenzie, says it is spreading much faster than anyone expected, ending the era when power had to be distributed and used the instant it was generated.
“Every time we do a new forecast, we have to revise it up for deployment and down for cost,” says Ravi Manghani, head of energy storage research at Wood Mackenzie. “We’ve been proven wrong again and again.”