LG CNS, a subsidiary of LG that provides technology consulting and services, has signed a $43 million contract with the Guam Power Authority (GPA) that states LG will build two energy storage facilities on the island.
One storage facility will be 24 MW, 6 MWh storage center while the other will be a 16 MW, 16 MWh facility. The 25-year contract states LG will operate and maintain the facilities. The project is expected to be completed within one year from now.
The storage facilities are being built in the provinces of Agana and Talofofo and are designed to help reduce the power outages the GPA experiences as a result of increased solar power penetration. The island is attempting to reach its goal of 25% renewables by 2035.
Island communities have been pinpointed as top spots for energy storage facilities and LG sees Guam as a stepping stone into Hawaii and Southeast Australia.
Energy storage initiatives have gained popularity in recent years. In April, the Maryland General Assembly took an historic step – becoming the first in the nation to pass legislation (SB-758) that provides a tax credit for the installation of an energy storage system. And in May, U.S. Representatives launched the Advanced Energy Storage Caucus in Congress with the goal of educating U.S. lawmakers about the benefits of energy storage systems.
The first quarter of 2017 was the biggest quarter in history for the U.S. energy storage market, according to GTM Research and the Energy Storage Association (ESA). The latest U.S. Energy Storage Monitor shows that 234 megawatt-hours of energy storage were deployed in the first quarter, which represents more than fiftyfold growth year-over-year.
When measured in megawatts, it was the third-largest quarter in history, only behind the fourth quarters of 2015 and 2016. Front-of-meter deployments grew 591 percent year-over-year, boosted by a few large projects in Arizona, California and Hawaii.