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#News(General) [ via IoTForIndiaGroup ]
Dive Insight:
The U.S. energy storage market is expected to more than double in 2019, according to a March report from Wood Mackenzie and the Energy Storage Association (ESA).Report authors forecasted a deployment of 1,681 MWh this year, up from 777 MWh in 2018. And while the deployment of storage does not appear to slow down any time soon, industry stakeholders are working on a framework to provide more monetary incentives for deployment.
“One of the things that’s definitely happening in the industry is value stacking. Your batteries can not only just provide for one use-case application or for just one revenue stream, but vendors are trying to build systems where they can actually use a particular battery system for several use-case scenarios and can derive several value streams out of it,” Gupta said Thursday.She specified that residential behind-the-meter (BTM) battery systems do not only provide resiliency and backup power for their respective owner, they also provide grid services. Utilities will compensate customers for allowing them to tap into their home battery system or participating in demand response programs, Gupta added.
“A lot of those models are currently being developed. It’s still a matter of time that the industry figures out a way that they can actually value stack different revenue streams. As the industry matures, we will definitely see the market moving toward that,” she said.
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