Energy Storage Investments Boom as Battery Costs Halve in the Next Decade

London and New York, July 31, 2019 Energy storage installations[1] around the world will multiply exponentially, from a modest 9GW/17GWh deployed as of 2018 to 1,095GW/2,850GWh by 2040, according to the latest forecast from research company BloombergNEF (BNEF… #renewableenergy #renewables #storage #storagesolutions #cleanenergy

This 122-fold boom of stationary energy storage over the next two decades will require $662 billion of investment, according to BNEF estimates. It will be made possible by further sharp declines in the cost of lithium-ion batteries, on top of an 85% reduction in the 2010-18 period.

BNEF’s Energy Storage Outlook 2019, published today, predicts a further halving of lithium-ion battery costs per kilowatt-hour by 2030, as demand takes off in two different markets – stationary storage and electric vehicles. The report goes on to model the impact of this on a global electricity system increasingly penetrated by low-cost wind and solar.

斗地主达人Yayoi Sekine, energy storage analyst for BNEF and co-author of the report, said: “Two big changes this year are that we have raised our estimate of the investment that will go into energy storage by 2040 by more than $40 billion, and that we now think the majority of new capacity will be utility-scale, rather than behind-the-meter at homes and businesses.”

BNEF’s analysis suggests that cheaper batteries can be used in more and more applications. These include energy shifting (moving in time the dispatch of electricity to the grid, often from times of excess solar and wind generation), peaking in the bulk power system (to deal with demand spikes), as well as for customers looking to save on their energy bills by buying electricity at cheap hours and using it later.

Logan Goldie-Scot, head of energy storage at BNEF, added: “In the near term, renewables-plus-storage, especially solar-plus-storage, has become a major driver for battery build. This is a new era of dispatchable renewables, based on new contract structures between developer and grid.”

Just 10 countries are on course to represent almost three quarters of the global market in gigawatt terms, according to BNEF’s forecast. South Korea is the lead market in 2019, but will soon cede that position, with China and the U.S. far in front by 2040. The remaining significant markets include India, Germany, Latin America, Southeast Asia, France, Australia and the U.K.

There is a fundamental transition developing in the power system and transportation sector。 Falling wind, solar and battery costs mean wind and solar are set to make up almost 40% of world electricity in 2040, up from 7% today。 Meanwhile passenger electric vehicles could become a third of the global passenger vehicle fleet by 2040, up from less than half a percent today, adding huge scale to the battery manufacturing sector。

Demand for storage will increase to balance the higher proportion of variable, renewable generation in the electricity system. Batteries will increasingly be chosen to manage this dynamic supply and demand mix.

斗地主达人The report finds that energy storage will become a practical alternative to new-build electricity generation or network reinforcement. Behind-the-meter storage will also increasingly be used to provide system services on top of customer applications.

The total demand for batteries from the stationary storage and electric transport sectors is forecast to be 4,584GWh by 2040, providing a major opportunity for battery makers and miners of component metals such as lithium, cobalt and nickel.

 斗地主达人 BNEF’s definition includes stationary batteries used in eight applications. It excludes pumped hydro storage.

 

India will have 330 GW of renewable energy capacity by 2030: Amitabh Kant, CEO, NITI Aayog

He also added that there is a need for transformational reforms in the power sector including privitisation, proper utilisation of renewables and strengthening of grid management and transmission system. #cleanenergy , #renewableenergy #cleanenergy #gogreen #energy #renewables

By Anshul Joshi

New Delhi:  CEO  has said that India will have 175 gigawatt (GW) of  energy generation capacity by 2022 and 330 GW by 2030 provided become commercially-viable entities. He was speaking at the Bloomberg NEF Summit here on Friday.

斗地主达人“In most of the solar which is bid out, buyers are discoms and hence it is important that the discoms are commericially strong. Payments must be made on time and the contractual agreements must be fulfilled in a systematic manner which remains a huge task for the administration and the political system,” Kant said.

斗地主达人He also added that there is a need for transformational reforms in the power sector including privitisation, proper utilisation of renewables and strengthening of grid management and transmission system.

Kant also said that the government’s strategy is to focus on two-wheelers and three-wheelers for electrification and it has taken a series of measures such as waiver of registration fees and tax concessions for electric vehicles。

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Amazon: New renewable energy project in Virginia, Ireland

ROANOKE, Va: Amazon has announced two new renewable energy projects, including a solar farm in a Virginia county and a new wind farm planned in Cork, Ireland.A news release posted on the company’s website…#renewableenergy #cleanenergy #gogreen #energy #renewables

 

A news release posted on the company’s website on Thursday says the solar farm proposed for Pittsylvania County is projected to begin producing energy

Amazon: New renewable energy project in Virginia, Ireland ROANOKE, Va: Amazon has announced two new renewable energy projects, including a solar farm in a Virginia county and a new wind farm planned in Cork, Ireland

A news release posted on the company’s website on Thursday says the solar farm proposed for Pittsylvania County is projected to begin producing energy sometime in 2020。 It says it will produce 45 megawatts of renewable energy capacity。 The online shopping giant says the energy would be used to power the company’s Amazon Web Services datacenters。

斗地主达人The news release didn’t give the exact location of the solar farm.

Virginia Gov。 Ralph Northam says the new solar farm will create jobs and economic development in rural Virginia。

斗地主达人Amazon says it now has 66 renewable energy projects。

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斗地主达人Can California deliver Carbon-Free electricity by 2050?

斗地主达人In August this year, Legislators in California voted that the power requirements of the state will be fulfilled by renewable and zero-carbon resources. A new home will be built with solar panels and auto manufacturers will only make vehicles with zero carbon emission.

Governor Jerry Brown signed the bill that is dubbed SB 100 (Senate Bill 100) and did what the whole world should do.

One of the most aggressive steps to counter climatic changes has time until 2045 to complete the goal. California has already made it mandatory to produce 50 percent of the required power from renewable sources by 2030, SB 100 pushed the amount to 60 percent. The state is planning for carbon-free electricity by using solar, wind, geothermal and hydropower.

The obstacles

斗地主达人It seems that California is determined to be a leader on climate issues, but SB 100 is a bill, not a plan. A lot of hard work and planning will be needed to meet this tall task by 2045. Some obstacles are mentioned:

  1. California is the world’s fifth largest economy. Within the next 27 years, its population will increase by millions and the economy will be almost double, intensifying the electric power requirements. Electric vehicles will also join in the electricity demand.
  2. Renewable energy source such as solar and wind demands storage and that will involve real technical planning and huge cost. In the case of spikes, the storage system has to be capable to store all the extra power.Keeping these obstacles in mind, they will be careful how to create a master plan. Let us talk a walk through what are or what can be the steps that can make California carbon-free by 2045?

Zero carbon, not only renewable resources

Voltaic cells will only produce power when the Sun is activeSB 100 is not limiting any technology to be used as it is not only about renewable energy, but it is also about going carbon-free. Officials following the bill are working on clean energy generation without restricting their resources.

Renewable energy means fuel-free, which is why it makes less impact on the environment。 But, most of the renewable energy is limited。 Voltaic cells will only produce power when the Sun is active。 Same goes with wind energy, which will be produced if and when the wind blows。 At a winter night in California, neither wind nor solar energy would be available。

California has one of the biggest economies not only because of the power generation capacity but also delivering the power required by the population. So, they have kept the door open for all kind of technologies that are expert in generating carbon-free electricity.

SB 100 is betting on innovation, the governor hopes that the technical department will develop some large batteries able to conserve energy when required. The bill’s think tank and drafters can also include a nuclear reactor, fusion or any new technology that will be available in the coming years.

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