In order to ramp up clean energy production, we have to figure out how to store and transmit it effectively. Companies are experimenting with new tech to figure out the best way to progress.
>”The smart grid energy storage sector is expected to grow to $50 billion by 2020, with an annual compound growth rate of 8%, according to a recent report from Lux Research. In 2013, renewable energy accounted for only 10% of total US energy usage and 13% of electricity generation, according to the US Energy and Information Administration.
But as renewable energy generation rises, transmission and storage advancements will be necessary. Curtailment, the act of spilling renewable energy because there’s more than enough, is one issue to tackle. By changing grid transmission lines in 2010, Texas saw the curtailment in their grid drop from 9% to 4% in 2012, according to a report by the National Renewable Energy Laboratory.
The tipping point with energy storage depends on the grid and the technology used, said Sam Jaffe, an analyst at Navigant Research. Some places in the world that have extremely high penetration rates of renewable energy don’t have major problems with wasted renewables. Denmark sends its extra wind power to Sweden and Norway, while importing hydro power from those two countries when the wind isn’t blowing. Denmark’s wind penetration is now at almost 40%.
“That’s because they are interconnected to other grids that have a lot of flexibility to offtake renewable energy,” he said.”<