Energy Storage - November 7, 2017
Report outlines path to 35 GW of installed storage
New research suggests a path for the U.S. to reach 35 GW of new energy storage systems installed by 2025.
The white paper, created by the Energy Storage Association in conjunction with Navigant Research, outlines market drivers that are powering rapid storage industry growth and explains the value of a disruption-proof grid. It also quantifies the considerable benefits of widespread energy storage deployment, such as $4 billion in cumulative operational grid savings and the potential for more than 167,000 new jobs.
The paper, "35x25: A Vision for Energy Storage," charts 35 GW of new installations across all energy storage technologies from 2017 to 2025. In 2017, the U.S. had approximately 0.5 GW of installed energy storage, deployed in both retail and wholesale markets. Navigant Research informs ESA's 35x25 vision of growth to 35 GW installed in less than 10 years.
Market drivers, according to the study, include the electrification of transportation data centers, HVAC, communications, industry and manufacturing, which demand a more flexible and resilent grid.
"This electrified economy will rely heavily on a properly functioning grid; disruptions will become even more costly in the future," ESA said in a news release announcing the study. "Even today, it is estimated that power outages, surges and spikes cost more than $150 billion to the U.S. economy every year."
With the growth to 35 GW, ESA says, the U.S. will also see the benefits of grid savings for a stronger economy and a robust jobs engine for America, as well as achieving greater electric reliability and resilience.
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