We outline the market outlook for grid storage in the energy industry — from investment trends and leading companies to recommendations for players in the space.
What is grid storage?
Grid storage companies offer hardware solutions that store electricity during off-peak times and send it back to the grid when demand is high. The storage duration of these solutions varies, ranging from hours to days to months. Typical solutions include lithium-ion or flow batteries and thermal and compressed air energy storage.
Features & capabilities
Grid storage provides utility companies with several capabilities, including the following:
- Real-time local and remote monitoring
- Demand response revenue capability
- Optional peak shaving
- Intelligent control system
- Long-duration energy storage system
- Energy management system software
Grid storage companies offer these benefits to utility companies:
- Reduced energy cost
- Reduced emissions
- Improved rate of discharge