Energy Storage Sector Booming
The energy storage business is booming, according to The U.S. Energy Storage Monitor Report.
The report, which published quarter by GTM Research and the Energy Storage Association, said that during the second quarter deployments increased by six-fold compared to the previous quarter. A total of 40.7 mW of energy storage was deployed, according to a story on the report in The Washington Post.
The key finding is that there is a growing interest in batteries and energy storage, which perhaps is being stimulated by the publicity around Tesla. The case for enhanced storage capabilities is strong due to the growth of on-demand grid approaches and the rise of renewable energy resources. Wind, solar and other approaches generate power on a sporadic basis. Thus, a way to store energy when it is collected is important.
Late last month, General Electric and Coachella Energy Storage Partners signed an agreement to build a $38 million battery for the Imperial Irrigation District in California. The 30 mW device will be one of the largest lithium-ion batteries in the state.
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