Research Shows Pairing Wind With Storage Critical for RE Future

A new report examines the use of energy storage for wind integration, covering existing and upcoming projects, the landscape, and expected market growth.

A new report from Navigant Research examines the use of energy storage for wind integration, covering existing and upcoming projects, the competitive landscape, and expected market growth.

The report, Optimizing Wind Power Plants with Energy Storage, with the objective to provide an in-depth look at the drivers and challenges for this growing market has stated that the rise of combined solar plus storage projects is reshaping the energy storage industry, yet employing energy storage for wind integration has fallen far behind. 

“The links between wind and energy storage projects remain far less established than storage for solar PV as a result of both technical and economic factors,” said Alex Eller, senior research analyst at Navigant Research. “Although combined wind plus storage projects offer similar benefits and potential, little development has taken place thus far for these combined projects.”

In order to launch more successful projects, the report recommends wind and energy storage operators invest in robust software to effectively pair the technologies with accurate wind output forecasts and market pricing. Stakeholders will also need to explore new revenue streams to address reductions or outright eliminations of subsidies for wind plants as well as maximise the use of existing transmission networks.

Additionally, wind farm developers should partner early with leading storage providers to identify cost-effective sites for potential projects and viable revenue streams.

Recently, a new analysis from research agency Wood Mackenzie had revealed that the global energy storage market is set to grow from approximately 4 GW of annual deployments in 2019 to more than 15 GW in 2024. According to the analysis, the end of the decade will benefit from stabilising supply chains and mature and experienced players. however, there will be even more potential for disruption from new technologies and policies.

“Costs have fallen, direct incentives and clean energy targets are proliferating, and competitive markets and vertically-integrated electricity providers are beginning to recognise the potential of energy storage. In the next decade, the already consolidating web of manufacturers, developers, investors, and integrators will compete for their slice of this burgeoning industry, carving out mature supply chains and propelling cost reductions. As they do, continued policy and regulatory efforts will be key to driving upside in the market,” the analysis stated.