Category: Energy Storage
Market forces and new energy storage technologies are converging to create a major paradigm shift in the energy industry with long duration energy storage becoming a key enabler for baseload wind and solar. Energy executives will hear a dynamic panel made up of executives from a leading US utility, a large-scale developer, a grid-scale storage technology professional, and an infrastructure financier, as they discuss how this paradigm shift will affect the changing energy landscape.
Grid operators are preparing for major changes by deploying energy storage with enough capacity to make intermittent renewables reliable enough to become the baseload source of power. Notably The New York Independent System Operator (NYISO) in 2018 proposed rule changes to facilitate the addition of needed storage capacity to the state’s grid to meet its renewables targets. PJM, one of the largest North American markets for energy storage, is requiring storage assets to have the ability to discharge for 10 hours to be eligible for capacity payments. RFPs from utilities such as ConEdison are already calling for 11 hours or more of energy storage.
The quantum leaps we’re seeing in the market can also be attributed to the cost of wind and solar being on par with fossil-fuel generation, and the broad availability of cost- effective and easily scalable long-duration energy storage resources.
This panel will discuss how long-duration energy storage will impact the United States’ grid-scale energy market.
Salvatore Minopoli– Vice President Highview Power USA, Highview Power