Navigant Research published a report this week that examines the use of energy storage for wind integration, covering existing and upcoming projects, the competitive landscape, and expected market growth.
This pairing of technologies can reshape the energy storage industry, as employing energy storage for wind integration has fallen far behind, the report says. With this advancement, Navigant Research believes that a greater reliance on renewable energy can be achieved.
The report recommends that wind and energy storage operators invest in robust software to effectively pair the technologies with accurate wind output forecasts and market pricing. It is also suggested that stakeholders explore new revenue streams to address reductions or eliminations of subsidies for wind plants, as well as maximize the existing networks.
Finally, the report also states that wind farm developers should partner early with storage providers to identify cost-effective sites for potential projects.