In 5 Years, Batteries Will Blanket The U.S., Duke Executive Says -

In 5 Years, Batteries Will Blanket The U.S., Duke Executive Says

Credit: forbes.com

  • Oct 22 2017 04:45About: 29 days ago
  • 25 views

Tesla Inc. Powerpacks and inverters stand at the Southern California Edison Co. Mira Loma energy storage system facility in Ontario, California, U.S., on Thursday, June 1, 2017. The Mira Loma substation houses nearly 400 Tesla Powerpack units. Photographer: Patrick T. Fallon/Bloomberg

Five years. That’s how soon batteries can be expected to sprout all over the electric grid as utilities and homeowners drop in on a wave of falling prices, a Duke Energy executive said in Chicago Thursday.

“There’s going to be a lot of excitement around batteries in the next five years. And I would say that the country will get blanketed with projects,” said Spencer Hanes, a managing director of business development with the Charlotte, North Carolina-based utility.

“With the way that the cost curves are coming down it’s a big opportunity for all of us to deliver what customers want.”

What customers want, it seems, is solar-plus-storage. They want it enough that homeowners are propping up the battery business even before it can make them money, said Adam Gerza, chief operating officer of the solar software firm Energy Toolbase.

“The momentums and drivers behind actual installed solar-storage projects are things like backup power and energy independence, and there’s a little bit of a screw-my-utility kind of attitude,” Gerza said, sitting alongside Hanes on a panel Thursday at Solar Power Midwest in Chicago. “In one word, it’s almost like emotion.”

Most homeowner projects don’t yet make economic sense, Gerza said. “There’s actually a pretty big subset of people that still want to do it anyways. So that’s happening, and frankly we need those creative use cases because purely from an ROI (return-on-investment) perspective it doesn’t make sense just yet.”

But sometimes it does make sense, according to Troy Miller, the director of grid solutions for S&C electric, a manufacturer of grid components.

“I think there are cases where it does make economic sense today, and they’re only going to grow,” Miller said, predicting market increases over the next five years in all three sectors: residential, commercial and industrial.

Prices have dropped from about $800 per kilowatt hour in 2012 to $281 in 2016, Hanes said, and are expected to continue to fall by 9 percent per year. The prices are driven down by the electric car industry, and while most of those electric cars are being purchased in Europe and China, the U.S. is benefitting from the impact on the price of lithium-ion batteries.

“You’re going to see a cost decline that looks a lot like solar, and I think that’s going to benefit customers as we figure out how to deploy solar and storage,” Hanes said. “The good news is that the technology is now here where lithium-ion batteries and other batteries, they actually work now. They’re becoming more cost competitive.”

The missing piece, according to Hanes, is policy. Energy-storage provides value to the grid in many forms, including reliability, improved power quality, deferred maintenance, but policy makers and regulators have to find ways to extract that value.

“If a person wants solar plus storage on their home and it doesn’t make perfect economic sense—we all do things in our lives that don’t make economic sense,” he said. “The point is, the future is coming where it’s going to make sense, and we need to get ready for it and start developing the policies and the rules to let it happen.”



Follow Us on Twitter

Electric utilities dropping wave falling prices that will spur expansion battery storage across United States five years Duke Energy executive said Chicago Thursday.

Related stories with In 5 Years, Batteries Will Blanket The U.S., Duke Executive Says

Lil B Attacked by A Boogie and PnB Rock at Rolling Loud Festival -World News
Lil B Attacked by A Boogie and PnB Rock at Rolling Loud Festival 29 days ago
Lil B was attacked by A Boogie Wit Da Hoodie and PnB Rock at Rolling Loud Festival earlier today. The assault was caught on video by onlooking fans and uploaded to Twitter via account user @trashvis. Moments after the incident, Lil B appeared on stage add
Defence minister Nirmala Sitharaman celebrates Diwali with jawans in Andaman and Nicobar Islands -World News
Defence minister Nirmala Sitharaman celebrates Diwali with jawans in Andaman and Nicobar Islands 29 days ago
The minister appreciated the work being done by the troops in the challenging environment and exhorted them to continue service to the nation in the highest tradition of the Indian armed forces.
No casualties in Kolkata commercial building fire, SBI office gutted -World News
No casualties in Kolkata commercial building fire, SBI office gutted 29 days ago
A massive fire broke out today on the 16th floor of a commercial building in central Kolkata, gutting the global market office of the State Bank of India (SBI).
New superfast train between Pune and Kazipet in Telangana to be introduced tomorrow -World News
New superfast train between Pune and Kazipet in Telangana to be introduced tomorrow 29 days ago
Mumbai, Oct 19 (PTI) A new weekly superfast train between Pune and Kazipet in Telangana will be introduced tomorrow, the Central Railway (CR) said to...
Muslim cleric backs Darul Deoband fatwa banning Muslims from posting pictures on social media -World News
Muslim cleric backs Darul Deoband fatwa banning Muslims from posting pictures on social media 29 days ago
Earlier on October 9, the seminary had issued another fatwa banning Muslim women from plucking, trimming and shaping their eyebrows.
Darul Uloom Deoband fatwa bans Muslims from posting photos on social media -World News
Darul Uloom Deoband fatwa bans Muslims from posting photos on social media 29 days ago
The Darul Uloom Deoband in Uttar Pradesh's Saharanpur has issued a fatwa prohibiting Muslim men and women from posting their or their families' photographs on social media sites.
Sushma Swaraj expresses concern over 3-yr-old adopted Indian girl missing -World News
Sushma Swaraj expresses concern over 3-yr-old adopted Indian girl missing 29 days ago
Sherin Mathews went missing after her father made her stand outside their house for not finishing her milk on Saturday and Swaraj has said the Indian Embassy in U.S. is actively involved in the matter
Police escort party let Sukesh Chandrashekar shop, do deals, buy luxury cars in Bengaluru -World News
Police escort party let Sukesh Chandrashekar shop, do deals, buy luxury cars in Bengaluru 29 days ago
Conman Sukesh Chandrashekar has always lived life king-size. Now an undertrial facing a series of cheating cases, including one on attempting to bribe officials in the Election Commission of India, he
Brave soldiers at the border on Diwali light lamp of hope: PM Modi  -World News
Brave soldiers at the border on Diwali light lamp of hope: PM Modi  29 days ago
In an unannounced visit, Modi arrived at Gurez this morning to celebrate Diwali with the army and BSF soldiers posted along the LoC, officials said.
Militant killed in encounter in J-K's Kupwara -World News
Militant killed in encounter in J-K's Kupwara 29 days ago
An encounter broke out between militant and security forces this morning after the latter launched a search operation in Langet, 100 kms from here, an Army official said.
DNA samples of kin of Indians missing in Iraq collected -World News
DNA samples of kin of Indians missing in Iraq collected 29 days ago
The deputy commissioner directed the health department to conduct the DNA tests of the families of the missing youths to ascertain their identities.
Behati Prinsloo Reveals Growing Baby Bump and Her Pregnancy Craving -World News
Behati Prinsloo Reveals Growing Baby Bump and Her Pregnancy Craving 29 days ago
Victoria's Secret model says she loves Fatburger fries and a milkshake