4 Energy Storage Topics to Watch
As the solar and wind energy markets continue to grow, so too will the energy storage market. Energy storage is essential for utilities to be able to store and manage the use of energy from renewable sources. A Forbes article outlined four key topics for tech companies and investors to watch as the energy storage market gains momentum:
1. Policies: In order for utilities to invest in clean energy storage development, there must be policies in place that ensure they will be compensated for their investment.
2. Investors: Before large banks and institutional investors will dip their toes in the energy storage market, they will wait and see how quickly the market takes off. Those who invest early assume the greatest risk and will demand a higher return for that risk.
3. Tech Players: When more policies are in place to support the use of clean energy storage, more companies will come on board to develop new energy storage technologies, and battery companies will invest more in product improvements and new product development.
4. Technical Challenges: Developing a long-lasting battery that stores a lot of energy is a technical challenge, so rather than trying to guarantee a certain performance period, battery service providers must be prepared to pay for fixes and replacements that extend beyond the life of their battery systems.
Photo via Shutterstock.
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