IU.S. battery storage capacity has been growing since 2021 and could increase by 89% by the end of 2024 if developers bring all of the energy storage systems they have planned on line by their intended commercial operation dates
IU.S. battery storage capacity has been growing since 2021 and could increase by 89% by the end of 2024 if developers bring all of the energy storage systems they have planned on line by their intended commercial operation dates
There is a big problem with that and that is that the most expensive electricity source is the price of electricity. The problem for renewables and nuclear is that most of them are expensive up front, but cheap to operate. So you end up in a position were you pay for the expensive fossil fuels and for adding clean electricity, without having the lower prices of clean electricity. That becomes really bad as the things like home heating and industry are long term decisiosn. You do not replace your boiler every few years as they last for decades. So you have to have policy to drive adoption of those technologies regardless of the price of electricity. Long term that is going to be mostly cheaper, but short term that it will not.