Published on October 6th, 2014 | by James Ayre1
Greensmith Experiencing Huge Growth In Grid-Scale Energy Storage Market
October 6th, 2014 by James Ayre
One of the world’s leading providers of energy storage management software and related services — Greensmith — recently made the announcement that it has seen huge growth in the grid-scale energy storage market.
To be exact about what “huge growth” means, in this case, it’s the commissioning of 23 MW worth of projects utilizing the company’s GEMS energy storage software platform (just in 2014).
The big uptick in business for Greensmith is no doubt being driven by the fact that more and more developers/customers/utilities are starting to make use of energy storage technologies for a number of different reasons, the most notable of which are: frequency regulation, capacity, ramp rate control, transmission and distribution deferral, and renewables smoothing.
Here are some more facts and figures pertaining to the company’s recent growth:
- The company has delivered 35 systems to 19 customers since it was formed.
- The company has experience integrating 10 different batteries and 6 different inverters/power control systems with its GEMS software platform.
- A California utility has deployed the company’s platform at a 500 kW /1.5 MWh storage project used for scale capacity and solar firming.
- A commercial-scale solar developer has deployed the platform at a 75 kW/150 kWh storage project used for commercial and industrial energy management and solar firming.
- A California utility is deploying the platform for a 1.5 MW/3.0 MWh storage project used for transmission and distribution deferral.
While the recent growth has been impressive, it’s likely to be completely eclipsed by future growth — the market for advanced batteries for utility-scale energy storage applications is expected to grow from $164 million in 2014 to more than $2.5 billion in 2023.
“While demand for grid-scale storage is growing, the challenges related to developing these highly specialized systems remains,” stated John Jung, CEO of Greensmith. “The GEMS software platform provides customers with the intelligence and flexibility they need to make energy storage systems a versatile part of their operations, and not just pilot projects or assets with functionality that is limited to a single application.”