 |
Louisiana Light • 3 days | 87.12 | +0.03 | +0.03% | ||
|
Bonny Light • 1 day | 89.32 | +0.45 | +0.51% | ||
|
Opec Basket • 3 days | 86.51 | -1.01 | -1.15% | ||
|
Mars US • 174 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 10 mins | 2.727 | -0.007 | -0.26% |
|
Bonny Light • 1 day | 89.32 | +0.45 | +0.51% | ||
|
Girassol • 1 day | 89.90 | +0.45 | +0.50% | ||
|
Opec Basket • 3 days | 86.51 | -1.01 | -1.15% |
|
Peace Sour • 8 hours | 76.01 | -0.55 | -0.72% | ||
|
Light Sour Blend • 8 hours | 79.06 | -0.55 | -0.69% | ||
|
Syncrude Sweet Premium • 8 hours | 86.01 | -0.55 | -0.64% | ||
|
Central Alberta • 8 hours | 76.41 | -0.55 | -0.71% |
|
Eagle Ford • 3 days | 79.33 | -0.29 | -0.36% | ||
|
Oklahoma Sweet • 6 days | 79.75 | +0.50 | +0.63% | ||
|
Kansas Common • 2 days | 73.50 | +0.50 | +0.68% | ||
|
Buena Vista • 3 days | 87.02 | -0.29 | -0.33% |
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U.S. Energy Storage Installations Up 183% In Q4 2020
U.S. energy storage boomed in the last quarter of 2020, with record 2,156 megawatt-hours (MWh) of new energy storage systems brought online, up by a massive?182 percent compared to the third quarter, Wood Mackenzie and the U.S. Energy Storage Association (ESA) said in their latest US Energy Storage Monitor report.
Front-of-meter (FTM) storage is booming in the United States, thanks to falling prices and falling barriers to storage deployment, according to the report.
Four out of every five megawatts (MW) installed in the fourth quarter of 2020 were FTM storage, and this segment contributed 529 MW out of the total 651 MW of storage deployed during the quarter.
For the full year, a total of 1,464 MW / 3,487 MWh of new storage was brought online in the United States, Wood Mackenzie and ESA said.
The U.S. storage market is expected to add five times more MW of storage in 2025 than was added in 2020, with FTM storage continuing to contribute 75-85 percent of new MW in each of those years, the analysts say.
“2020 is the first year that advanced energy storage deployments surpassed gigawatt scale – a tremendous milestone on the path to our aspiration of 100 GW by 2030,” said ESA’s Interim CEO Jason Burwen.
Alongside rising shares of solar and wind power in the electricity mix, the U.S. is set to see increased energy storage installation as storage is critical to ensuring more solar and wind power generation.
America has the potential to see 100 GW of new energy storage deployed by 2030, ESA said in a white paper in August 2020.
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This is an ambitious target, considering that in its previous estimate from 2017, ESA projected 35 GW of energy storage— including batteries, thermal, mechanical, and pumped storage hydro—installed by 2025. The ambitious 100-GW target of new energy storage is achievable if supportive policies and emerging policies removing barriers to market participation continue, the trade association says.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
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Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
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Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
Taking profits in Oracle today.
Nothing wrong with a s*** ton of physical US cash dollars at the moment let alone going on forever now income producing non-real estate assets. Master Limited Partnerships might be worth a good look at here with oil speculators running this wild at the moment.
Natural gas obviously let alone coal have not confirmed this move higher in oil futures prices in the least but just the same this is great news for the US economy both now and going forward.