Utility scale energy storage is fast picking up steam and car manufacturers like Tesla want in on the action. Over the past several days, Tesla has secured deals with Green Mountain Power, AES, Advanced Microgrid Solutions, OnCor and Southern California Edison.
This is in addition to CEO Elon Musk’s plan to turn Tesla into a vertically-integrated clean energy company with the manufacturing, sale and operation of products spanning from energy production to storage and consumption.
“We think there's really a huge opportunity here to have a highly-integrated, sustainable energy company that answers the whole sustainable energy question from the generation of power to storage to transport,” he said on a press call.
The growth of this trend in storage is being seen globally. Navigant Research announced recently that “momentum in the residential energy storage industry is growing rapidly as utilities begin to recognize the value residential energy storage systems can provide.”
According to the research, the residential energy storage market is most developed in leading markets such as Australia, Germany, Japan, and the United States. These are expected to account for 81.4% of the market – a sizeable opportunity.
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