The increasingly competitive dynamic duo of solar photovoltaic plus battery storage is taking energy markets by storm. Utilities are increasingly looking at batteries as a tool for leveling out power available over the course of the day.
Leading investment bank Morgan Stanley believes the Australian energy market is seriously underestimating the grow of solar and battery storage, and says the technology will be installed at rates four times quicker than the incumbent energy industry expects.
Driven by better battery technology and the disincentivization of grid-connected solar panels, off-grid solar is about to make a comeback. How sustainable is a solar PV system if energy storage is taken into account?
Rethinking the grid is quickly emerging as one of the hottest topics.
•The Energy Transition is Here •IEA Report: Wind and Solar Can Carry Bulk of Energy TransformationT•he Economics of Grid Defection •Industry-funded report calls for changes to German energy policy •Coal Crunch Gives Impetus to India’s Solar Switch •Food and wastewater biogas to heat 5,200 New York homes •Report: Solar Paired With Storage Is a ‘Real, Near and Present’ Threat to UtilitiesA•nother Banner, Record-Breaking Year for U.S. Solar
Perhaps the biggest shortcoming of solar and wind power is their intermittency. In locations like Hawaii, where I live, wind and solar power are already competitive on price. My fossil-fuel supplied electricity typically costs above 40 cents a kilowatt-hour, and wind and solar power can compete with that. But since they can’t supply power that is available on demand (firm power) they must be backed up by power sources that can provide power when the sun isn’t shining and the wind isn’t blowing.