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The Rise of Energy Storage

Rise Of Energy Storage

Article posted by Rhys Elliott

The resounding message from firms we have spoken to in this past quarter is ‘We are back and open for business’’. The construction space is lining up for an action-packed Q3. Similarly to last year, the utility-scale market is expected to be the primary driver of Q3 installations with 2.7GW of new capacity, representing 70% of the total 3.8GW of solar installed during the quarter. According to those companies we have spoken to that managed to survive last year’s pandemic, Utility Scale construction shows no signs of slowing down and still on track to beat last year’s 12GW installation capacity. 

The largest project slates are in states that have raised their targets in recent years (e.g. California, Nevada and New York). Still, more projects have also sprung up in Virginia, the most recent state to introduce an RPS in April 2020 that mandates 100% renewable electricity by 2050.

The global utility-scale energy storage market is on track for a record year in 2021, with the US continuing to lead the way. The US energy storage industry, still the world’s leader in adopting batteries for the grid and renewables, has made clear steps. Research firm Wood Mackenzie Power & Renewables found that in the third quarter of 2020, 467MW / 764MWh of energy storage was deployed around the US across all market segments. 2021 will be an “important year for energy storage”, and the industry will continue to grow at an accelerated rate - with at least 3.6GW of storage expected to come online.

We mentioned previously how the new administration would have an impact and see the industry spotlight move back onto renewables, and just that has happened. The Biden-Harris administration, which included climate protection and environmental concerns prominently in campaigning during the election, has also been mirrored by a lot of progress at the state level. Arizona, Maryland, Nevada, and Virginia are stepping forward to show leadership on energy storage policy, along with storage advocates California and Hawaii.

To discuss how the rise of energy storage may affect your hiring strategies or career path, please reach out to RO Energy - hello@wearero.com