How to De-risk North America's Energy Storage Project Pipeline
In a Global Energy Storage Outlook published in October 2021, the analyst firm Wood Mackenzie estimated that the U.S., which accounts for 95% of the North American market, could have almost 400 GWh of battery storage installed by 2030 — around twenty times the current levels. Energy storage, mostly provided by batteries, will play a key role in giving the grid the flexibility to absorb massive quantities of wind and solar power.
Investors still only have limited experience with battery storage and are concerned about a range of risks associated with the technology. For the energy transition to proceed at the required speed, these risks must be understood and mitigated as quickly as possible.
To help assess the challenges involved in energy storage risk mitigation, UL Solutions convened a round table event featuring a range of clean energy experts. This paper captures the main themes and conclusions of the discussion.