At-A-Glance:
Energy storage is critical to ensure the successful implementation for a path to 100% renewables. As storage gets cheaper, it starts to present a disruption in how the utility industry addresses demand & supply concerns.
Key Takeaways:
- Advances in technology & lower prices on battery storage create a new paradigm
- NextEra’s Vice President sees this as a dramatic shift making way for more hybrid projects
- Renewables paired with batteries disrupt the old utility industry model
Path to 100% Perspective:
For more than a decade, the plummeting cost of renewables has been the lead factor driving the transition towards a renewable energy economy – and the need for cheaper battery storage has been needed along the way to assist in this transition. Now, as battery prices drop in parallel with improving storage technology, a disruptive challenge is facing the utility industry in terms of what types of projects to invest in. Read more about this unique challenge in the Forbes article titled “Why energy storage is proving even more disruptive than cheap renewables.”