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Energy storage capacity spending to increase six-fold by '24

Lucas Mearian | Sept. 6, 2016
Storage systems can eliminate utility demand charges for businesses, saving them money

"It doesn't matter if you only hit that peak demand for a second, your monthly bill is then based on that one second of peak demand," Goldie-Scot.

If an enterprise can draw off an energy storage system during peak use hours, it can avoid utility demand charges.

According to Goldie-Scot, "hundreds of millions of dollars" are being invested in energy storage companies, such as Stem Inc. and Green Charge Networks, which are building storage systems and managing electrical demand for enterprises.

In May, France-based global utility Engie took notice of the trend and acquired Green Charge.

"There's an increasing rate of self-consumption from onsite power generation," Goldie-Scot said. "While on-demand charges vary in importance, there's also the issue of power reliability, which leads large companies such as Apple and others to adopt onsite generation and storage. They have a much greater control over electrical supply."

 

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