Released February 17, 2017 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Battery energy storage system (ESS) projects may soon replace simple-cycle peaking combustion turbines due to their flexibility, zero emissions and low cost per kilowatt to construct. Multi-hour ESS may soon be able to provide peak generation during high-use hours in the morning and afternoons during peak generation times, while also providing energy-balancing services instantaneously. By 2020, electric utilities may soon be able to choose between building a simple-cycle peaking unit or building ESS to augment peak generation and emerging distributed generation assets such as micro-grids.
One of the largest utilities in the U.S., NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida), has already started this transition, with more than $100 million in energy storage projects already operational or in development. The projects will be used mostly for frequency regulation and grid reliability, but also will provide up to six hours of generation to the grid when needed. NextEra Energy expects that the price of ESS will continue to fall over the next few years, and that by 2020 the company may not need to build conventional peaking combustion turbine generation.
Currently, Industrial Info is tracking 21 battery energy storage projects in North America valued at $826 million, including 20 projects in the U.S. valued at $746 million and a project in Canada valued at $80 million.
Energy storage systems can be located at utility substations, conventional fossil fuel power plants and renewable energy facilities, and offer a replacement for the lost revenue from the increased penetration of solar photovoltaic modules being used on residential and commercial businesses.
As the amount of renewable energy resources increases, the electric transmission grid needs peaking resources that are more flexible and can support the integration of resources on a distributed basis. ESS is significantly more flexible than combustion-turbine generators, which are extremely slow to ramp up, which makes them less suitable for the new mission of providing grid support and peak generation when wind and solar power drops off due to low wind times or cloud-cover days.
The latest technology that will enable battery energy storage systems to compete in the utility and industrial ESS markets is the vanadium redox battery, also known as the vanadium flow battery. This type of battery is containerized, nonflammable, compact, reusable over semi-finite cycles and discharges 100% of the stored energy, offering the best deployable large-battery storage technology developed thus far.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
One of the largest utilities in the U.S., NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida), has already started this transition, with more than $100 million in energy storage projects already operational or in development. The projects will be used mostly for frequency regulation and grid reliability, but also will provide up to six hours of generation to the grid when needed. NextEra Energy expects that the price of ESS will continue to fall over the next few years, and that by 2020 the company may not need to build conventional peaking combustion turbine generation.
Currently, Industrial Info is tracking 21 battery energy storage projects in North America valued at $826 million, including 20 projects in the U.S. valued at $746 million and a project in Canada valued at $80 million.
Energy storage systems can be located at utility substations, conventional fossil fuel power plants and renewable energy facilities, and offer a replacement for the lost revenue from the increased penetration of solar photovoltaic modules being used on residential and commercial businesses.
As the amount of renewable energy resources increases, the electric transmission grid needs peaking resources that are more flexible and can support the integration of resources on a distributed basis. ESS is significantly more flexible than combustion-turbine generators, which are extremely slow to ramp up, which makes them less suitable for the new mission of providing grid support and peak generation when wind and solar power drops off due to low wind times or cloud-cover days.
The latest technology that will enable battery energy storage systems to compete in the utility and industrial ESS markets is the vanadium redox battery, also known as the vanadium flow battery. This type of battery is containerized, nonflammable, compact, reusable over semi-finite cycles and discharges 100% of the stored energy, offering the best deployable large-battery storage technology developed thus far.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
