ORIGINAL REPORTING: New metrics reveal energy storage's potential
More than megawatts: New metrics reveal energy storage's potential; GTM is now counting MWhs and carbon reductions in its storage market updates, illustrating more of what the technology can do
Herman K. Trabish, December 15, 2015 (Utility Dive)
Editor’s note: Storage continues to grow this year.
The energy storage market continues to show robust growth for storage technologies both in front and behind the meter, though still from small base numbers, and costs continue to fall for battery technologies. But the inclusion of megawatt-hours (MWh) along with the more common megawatt (MW) measurement delivers a deeper understanding of the energy storage market. And the addition of CO2 reductions shows a new appreciation for what energy storage can do, according to numbers from GTM Research.
Cumulative energy storage in 2015 will more than triple 2014's total. By 2020, with more markets for storage opening up, annual deployment is expected to be up to 1,349 MW, which is over 20 times the 2014 market, and seven times the size of 2015 market. Data is now being reported in two metrics because of the clearer recognition of the many applications of energy storage, explained Ravi Manghani, GTM Senior Energy Storage Analyst and lead author of the energy storage updates. MW is a power unit — the amount of electricity the storage system can provide at any given second. MWh, by contrast, is an energy unit, which measures the number of hours a storage system can deliver its rated MW capacity. click here for more