Energy storage has reached a turning point as a mainstream grid-reliability resource. The United States achieved another year of record deployments, and forecasts show continued rapid expansion of the energy storage industry. At the same time, the investment case for storage is still difficult due to risks of limited technology track record and business cases that rely on uncertain revenues. Due to rapidly changing grid dynamics and the long life required of storage assets, energy storage owners must future-proof their investments today.
To future-proof energy storage, storage developers must employ technology and project engineering specifically designed for flexibility. Future-proofing also requires commercial agreements and analytical expertise to optimize the operational value of energy storage. Andy will describe the requirements involved in future-proofing energy storage and Greensmith’s approach to future-proofing energy storage projects in two significant markets: the United Kingdom and California. With changing dynamics in these markets and others, storage owners will be successful only if they future-proof their energy storage investments.
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