The Synergy of Solar Power and Energy Storage
Declining Battery Costs Will Drive the Expansion of the Global Energy Storage Market
Energy storage technologies are receiving a great deal of attention today because of their potential to play a key role in the transformation to a low-carbon, clean energy future. Traditionally, utilities have changed the output of generators (the electricity supply) to adjust to variable but largely predictable demand. With the introduction of more variable renewable generation resources, the equation becomes more complex because solar energy output is not dispatchable the way conventional generation is. Storage can help utilities manage this variability in solar output by providing a broad array of grid services that generally make the power system more flexible, a recognized key to integrating high penetrations of wind and solar.
For commercial and industrial clients, a frequent challenge is the management of peak demand charges, particularly in high-cost Northeast electricity markets. MSL Group works with property owners to design and implement turnkey peak demand shaving and ISO frequency regulation services. These behind-the-the meter systems offer cost reduction and revenue generation opportunities. Due to the recent, material decline in lithium-ion batteries, these systems, depending on the demand profile of the client, can offer an attractive return on investment.
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