Global energy storage installations are projected to multiply 122-fold by 2040.
The electrical grid is the largest machine ever built—yet it is rapidly aging and will continue to be challenged by an ever-changing, decentralized, and renewable-driven energy landscape.
This evolution has created logistical and financial challenges for utilities, which will pass costs onto their customers.
At the same time, the cost of batteries has dropped ~80% in the last decade, making energy storage a financially viable—and advisable—solution in many applications.
Energy storage works well on the current grid and with a wide variety of technologies to hedge against rising prices and volatility while supporting the proliferation of renewables.
Energy storage allows power to be deployed at more strategic times, helping businesses avoid premium pricing during times of peak demand and insulating utilities against the changing energy landscape.
Lithium-ion battery deployments are predicted to increase 800% from 2017 to 2022.
”It’s been exciting and enormously fulfilling to be a part of and help guide the energy storage industry since its inception. We are far beyond the hypothetical discussions of 2011 and now we expect the market opportunity to double every year for the foreseeable future.Johannes RittershausenChief Executive Officer