At the recently concluded Intersolar 2014, it became apparent to industry observers that solar power storage is more competitive than ever, as companies have realized its importance. And according to experts, the issue of storage will hog more of the headlines in the coming years, for many reasons.
Why Storage Matters
It’s easy to see why storage has become such a big deal, because it can function as a container for power that the commercial, industrial and residential sectors can avail of. As one industry insider put it, storage is the most practical means to keep PV electrical output at a regular level. As anyone who’s used solar energy can point out, clouds affect input, but with a storage system, energy can be allocated for the rest of the day when the sun has set.
Because of this, storage facilities and systems have become valuable, and it will be more so in the coming years for other reasons. First, experts point out that just like other solar related products, the cost of solar power storage and installation will go down. As more PVs are installed, the greater the number of PVs that will need containers to prevent power output reduction brought about by intermittency.
Second, costs for electrical containers will be driven down by the emergence of the electric car. Not only will there be price drops, but PVs will be more versatile and have increased functionality. At the same time, it’s widely expected that government policies are going to encourage more investments in the industry.
Dependable and Profitable
Increased used by consumers and business friendly policies will make the industry more profitable, which ultimately benefits the consumers in the end. Based on recent developments, it’s likely that the PV industry will evolve and lead to more versatile storage systems. Already one can see potential of this as big players in industry showcase storage solutions with inverters.
However, one doesn’t have to wait years to see solar storage facilities on display. As stated, several companies in the US, Europe and Australia have begun development of these systems and are being displayed in various exhibits. Interestingly, development has accelerated to the point that safety issues like fire susceptibility have been addressed.
The PV industry is also expected to benefit from technological advances in batteries, as they’re a viable storage solution. Vanadium redox is especially appealing as it has a quick response time and can be used in other applications once it reaches the end of its life.
With rapid developments taking place, experts believe that more storage and PV installations will be done, and development of “smart grid” systems and integrated communications is going to entice more consumers to make the switch. Furthermore, insiders in the energy sector say that this will happen sooner than later due to increasing demand.
Aside from upcoming state of the art storage systems, the PV industry, and consumers, will benefit from the implementation of new rules like Rule 21 in California, which should lead to more PV grid power, increased values, reduced congestion and great capacities.
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