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Marlene is Deloitte''s US Renewable Energy leader and a principal in Deloitte Transactions and Business Analytics LLP. She consults on matters related to valuation, tax, M&A, financing, business strategy, and financial modeling for the power, utilities and renewable energy sectors. Marlene has been at Deloitte for more than 22 years and holds a Master of Business Administration in finance from Rutgers University and a Bachelor of Science in mechanical engineering from Lehigh University.
Kate Hardin leads Deloitte''s research team focused on the implications of the energy transition for the industrial, oil, gas, and power sectors and has an experience of more than 25 years in the energy industry. Before that, she led IHS Markit Ltd''s integrated coverage of transportation decarbonization and the implications for automotive and energy companies.
Jaya Nagdeo is a manager with Deloitte Services India Pvt. Ltd., and is part of the Deloitte Research Center for Energy & Industrials. She has more than 11 years of experience in strategic and financial research across all power utilities and renewable energy subsectors and has contributed to many studies in the areas of energy transition, business strategy, digital transformation, operational performance, and market landscape.
Amid this dynamic energy landscape, energy storage may emerge as an important tool to address these challenges, potentially revolutionizing how electricity is generated, managed, and consumed. Technological breakthroughs and evolving market dynamics have triggered a remarkable surge in energy storage deployment across the electric grid in front of and behind-the-meter (BTM). Battery-based energy storage capacity installations soared more than 1200% between 2018 and 1H2023, reflecting its rapid ascent as a game changer for the electric power sector.3
Energy storage growth can be portrayed in three different eras (figure 2), driven by technological advances and progressing from short-duration solutions to a mix of short- and long-duration energy storage technologies.13
The key objective of this dimension is to minimize curtailment, maximize utilization, and optimize the use of renewable energy in electric grids by considering the following storage strategies:
Electric power companies can deploy grid-scale storage to help reduce renewable energy curtailment by shifting excess output from the time of generation to the time of need. Energy storage enables excess renewable energy generation to be captured, thereby reducing GHG emissions that would have occurred if conventional fossil fuel-fired backup generation was used. If the renewably generated electricity curtailed in CAISO in 2022 could have been stored for later use, over 534,000 metric tons (mTCO2) of carbon emissions would have been avoided.20
Deploy hybrid renewable energy + storage systems to maximize renewable energy penetration: Electric companies can maximize renewable resource penetration by installing hybrid21 systems that pair renewable generation with energy storage components. This approach could efficiently manage variable renewable generation, helping ensure electricity is delivered to the grid when and where needed.
Electric power companies can use this approach for greenfield sites or to replace retiring fossil power plants, giving the new plant access to connected infrastructure.22 At least 38 GW of planned solar and wind energy in the current project pipeline are expected to have colocated energy storage.23 Many states have set renewable energy targets or clean energy standards, and companies can more easily meet these requirements by integrating storage with renewable energy sources.
The key objective of this dimension is to enhance grid flexibility, reliability, and resilience to accommodate the growing complexity of balancing supply and demand; it could involve the following storage strategies:
Companies can leverage existing grid connections and infrastructure by repurposing peaker plant locations. Focusing on fossil fuel peakers with low utilization rates can yield immediate benefits, as these underutilized peaker plants tend to be low-hanging fruit for energy storage deployment.
Integrate BTM storage with demand response programs and provide ancillary services: Electric companies can actively manage and shape electricity consumption patterns by combining customer-owned distributed energy storage with demand response programs. In 2022, several utilities filed plans to offer new battery storage demand response programs, typically offering a performance-based incentive or bill credit for energy discharged during specified time periods.30
About Grid scale energy storage market
As the photovoltaic (PV) industry continues to evolve, advancements in Grid scale energy storage market have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Grid scale energy storage market for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Grid scale energy storage market featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
