Bloomberg New Energy Finance has estimated that the energy storage market will be worth $250 billion by 2040. How will the energy storage market reach that potential?
The idea is that battery technology advancements that we’re seeing today in electric vehicles and computers are among the drivers that will allow for development of energy storage at scale — both behind the meter when paired, for example, with solar PV, and in front of the meter to smooth out bulk renewable energy generation on the grid.
Around the world, governments are beginning to institute the policies that will support expanded use of energy storage, and utilities and research institutions are putting the energy storage projects online now that will show where storage has value within the power system. Further progress is being made in delivering commercial home storage to end users, as solar providers team up with storage providers to offer bundled packages.
The path to fulfilling the potential of energy storage will be the same as for any technology — find the right approach that will bring down the cost of storage and enable large-scale deployment.
We want to highlight the progress being made in energy storage development today, and take a closer look at how the energy industry will change in response to that development. That’s why we’re hosting a #StorageImpacts Twitter event to chat about policies affecting energy storage and the financing of projects, as well as trends in bulk storage, DERs, microgrids, residential power, safety, and more.
Join us on Twitter on September 13 from 1:00 pm – 2:00 p.m. PDT and share your thoughts on energy storage technologies, opportunities and advancements and the limitations of the industry now and in the future.