BIGGEST YEAR EVER FOR BATTERIES
STORAGE IS KEY TO CLEAN POWER ON DEMAND
A recent article by Canary Media’s Julian Spector highlights explosive growth in the energy storage market. This is good news for renewables, because storage is key to overcoming the intermittency of PV and wind and making clean energy a reality around the clock. Though Spector’s data is drawn from the U.S., it is representative of similar trends across the globe.
Although battery storage is needed wherever wind or PV are used – both off-grid and on-grid – Spector focuses on grid-connected applications which predominate in developed countries like the U.S. Spector begins by noting that 2021 was the biggest year ever for energy storage. He quotes Jason Burwen, interim CEO of the U.S. Energy Storage Association in as saying, “After achieving one gigawatt of annual installations for the first time [in 2020], U.S. energy storage companies just installed one gigawatt of projects in [just the 3rd] quarter [of 2021].”
This means, says Spector, that “more batteries [are] charging up in moments when the grid has more power than is necessary and discharging during the hours when electricity is scarce and more valuable.” This is a critical point. PV and wind often produce more energy when the sun is shining or the wind is blowing than is needed to meet demand. Storage allows energy providers to harvest solar and wind energy whenever it is generated and deliver it after the sun sets or to minimize demand charges during other times of peak usage. The need for storage will continue to expand as fossil-fuel generation is phased out and more and more PV and wind resources are added to grids.
Unfortunately, most current investment focuses on lithium-ion batteries, which are ubiquitous and getting cheaper, but still only economical for storage durations of four hours or less. Other longer-duration technologies like flow batteries are only slowly gaining traction, or like gravity or compressed air, still experimental. If you’d like to know more about 247Solar’s unique solution to long-duration storage — up to 20 hours — using proven technologies, please let us know.
Mine Power – Opportunities in Inclusive Mining
A new report from the Alliance for Rural Electrification (ARE) and UNIDO ITPO Germany highlights significant opportunities for mining companies that operate near off-grid or grid-underserved communities to leverage their investments in renewable energy. The report’s foreword makes the case:
“The global mining sector is currently facing a conundrum. As a growing energy and emission-intensive industry, the mining sector continues to be exposed to policy and regulatory risks arising from concerns of climate change and impacts on the environment.” At the same time, “decentralised renewable energy (DRE) offers a variety of benefits, such as a reliable and modern electricity supply, cost reduction, reduced environmental impacts, as well as the potential to mitigate climate change at scale.”
Inclusive mining – the concept of sharing DRE systems with surrounding communities, will help ensure a sustainable mining practices while increasing electricity access to underserved regions. It will also enable miners to avail themselves of funding opportunities for their DRE projects and realize ESG benefits they would otherwise miss. Read the full report here, and check out the case study it includes of a 247Solar inclusive mining project under discussion in Australia. Download the full ARE-UNIDO report here.
News from 247Solar
247Solar is growing. This month we welcomed Chanchal Kalra to our team as Bids & Contracts Manager. Chanchal’s role is to find and qualify ‘best fit’ bid opportunities globally, analyze project economics, write winning proposals, and negotiate agreements with customers. He is based in Faridabad (Haryana), India.
We are also pretty proud of our all-new website, developed with Valley Creative. If you’re reading this you’re already on it. Please have a look around.