Bridgetown commercial and industrial energy storage policy

How are policy initiatives promoting energy storage?

Policy initiatives are fostering the integration of source network, load and storage systems. New energy storage solutions on the user-side are being encouraged to adapt flexibly. Support for industrial and commercial energy storage has been bolstered by policies, as highlighted in the Blue Book on the Development of New Electric Power Systems.

What drives the development of industrial and commercial energy storage?

Policy, economics, and energy security are driving the accelerated development of industrial and commercial energy storage. Policy initiatives are fostering the integration of source network, load and storage systems. New energy storage solutions on the user-side are being encouraged to adapt flexibly.

What happened to energy storage in 2023?

In 2023, the commercial and industrial (C&I) energy storage sector saw a significant uptick in installations, marking a pivotal moment with 4.77 gigawatt-hours (GWh) of energy storage capacity added.

Is C&I energy storage viable in 2023?

Consequently, the economic viability of C&I energy storage became increasingly compelling, catalyzing rapid growth within the energy storage industry. This robust momentum positioned 2023 as a promising starting point for C&I storage.

Will C&I storage grow in 2024?

These figures bode well for continued growth throughout 2024. According to forecasts by the Energy Storage Association of America (EESA), domestic C&I storage installations are projected to reach 4.8 GW or 9.5 GWh in 2024, with a year-on-year (YoY) growth rate of 99.2%.

Is integrated energy storage (IESS) adoption accelerating?

The rate of advancement for new supply-side products is accelerating, projecting an uptick in IESS adoption. Integrated industrial and commercial energy storage products are set to incorporate both AC and DC systems, streamlining components such as DC cables and switches, thereby reducing overall product costs.