Why Energy Storage and Renewable Energy?
An investment of $7.5 trillion in renewable energy is expected over the next 20-25 years. Energy storage is set to become a $20 billion per year market by 2040, a ten-fold increase from today.
The United States and Canada rank 1st and 2nd in the world, in the amount of electricity used per person. Over the next 20-25 years, this consumption is expected to increase by 2% per year representing $10 trillion in new electricity investment. Seventy-five percent of this growth is expected to come from renewable sources, thanks to rapidly falling costs for green energy and energy storage that is required to balance the fluctuating electricity produced from the sun and the wind.
North America’s electricity grid is approximately 120 years old and requires an investment of $1 trillion, over the next 10 years, simply to maintain its current performance. Energy storage will help alleviate further investment in grid repair by creating “smart distributed grids”. These grids are customized to each customer and provide the following benefits: (a) the delivery of electricity with more reliably and efficiency; (b) reduction in the frequency and duration of power outages; (c) security improvements; (d) reducition of peak loads; and (e) the reduction in repairs to the electrical grid.
Our energy solutions save our customers money and improve their energy reliability, flexibility and security at the same time.