Strong prospects for energy storage in coming years

A new report suggests that the energy storage industry could grow substantially in coming years as the energy industry is forced to adapt to increasing fluctuations in both supply and demand, according to the Electricity Storage Association.

Commissioned by the Copper Development Association and produced by energy consulting firm KEMA, the report examines the potential for energy storage technology over the next fives years.

In that time, the report's analysis suggests that the country could add anywhere from 2 gigawatts to 4 gigawatts of energy storage capacity. As with much of the renewable energy sector, the exact level will depend upon the incentives offered for the technology, as well as the growth of intermittent energy sources such as solar power and wind power.

"We are thrilled that an outside analysis affirms what the energy storage industry has already been seeing," Brad Roberts, executive director of the ESA, said in a statement. "The next five years will be critical and provide enormous opportunity to move storage technologies to full commercialization."

Though water- and heat-based storage systems are likely to remain dominant, newer battery technologies have the potential for dramatic growth in the coming years, particularly as private investment in that sector continues.

Further information on energy storage can be found at PennEnergy's Research area.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs