Energy storage is required for full deployment of intermittent renewable technologies such as wind and solar. A smart grid also requires energy storage capacity. The U.S. energy storage industry comprises hundreds of companies and thousands of American workers building commercial energy storage systems throughout the country. Over 60 million Americans in 13 mid-Atlantic states plus the District of Columbia are saving money and receiving highest quality service thanks to energy storage systems operating in that region. Energy storage systems operating provide a 10x faster and more accurate response to power dispatch requirements.
Energy storage involves many different technologies, some with more technology risk than other. Energy storage technologies include:
Market research firm IHS says that the energy storage market is set to explode to an annual installation size of 6 gigawatts (GW) in 2017 and over 40 GW by 2022 — from an initial base of only 0.34 GW installed in 2012 and 2013. IMS Research expects the market for storing power from solar panels – which was less than $200 million in 2012 – will catapult to $19 billion by 2017.
Data according to IHS Markit, IMS Research, and the Energy Storage Association. Information is current as of January 2017 and subject to change.
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