Energy storage plays an integral role in many of our solutions, sometimes as a stand-alone technology and other times as part of a wider set of distributed generation assets. Energy storage use-cases are varied: reducing customers' energy prices through peak shaving; supporting electric vehicle fast-charging stations; or helping to integrate solar PV and cogeneration electricity into a campus’s grid.
• BNEF calculates that energy storage costs have dropped by 76% since 2012. Further, GTM believes FTM system prices are due to decline 25% over 2019 and 2020.
• Lithium-Ion and Flow are the two most commonly used battery types.
• It is projected that by 2024 U.S. energy storage annual deployments will reach 4.4 GW and the U.S. energy storage market will be worth $4.7 billion.
Non-Wires Alternatives (NWAs) refer to a suite of options such as distributed generation or energy storage designed to avoid the need for traditional equipment upgrades such as transmission and distribution lines or transformers. A ‘DBOOM’ business model whereby a third-party owns the solution, such as a battery, and pays the owner of the location site lease payments can help to push NWA projects forward. Full value to the utility is ensured by providing them with control over location and dispatch.