Hello and welcome back to the blog. Today, we’re talking about a topic that’s seen a lot of growth and interest lately – grid-scale energy storage. If you’re planning to go the solar path, perhaps considering solar panels for your home, reading this post will help you understand a significant part of the mix.
The energy storage sector has exploded in recent years, transforming from a nascent industry into an essential component of our increasingly renewable-powered grids. To put things into perspective, just in the first three quarters of 2023, a whopping 13.5 GWh of storage was installed, outstripping the full-year total for 2022!
One U.S. company riding the wave, Powin, made a leap from sales of $200 million in 2021 to an awe-inspiring $2.2 billion in just a year. These impressive figures were propelled by the company’s offering of lithium-ferro-phosphate grid-scale battery services.
So, why are these batteries so crucial? Well, they typically provide services such as grid arbitrage, peak demand shaving, and storage-as-transmission, and are usually installed for two to four hours duration. Powin’s ability to deploy over 3,200 MWh of battery systems worldwide, with a further 11,900 MWh under construction (as of Q4 2023), demonstrates their capacity to meet the surge in demand for reliable energy storage.
But how did Powin achieve this rapid growth? The company credits its hefty investment in research and development. This commitment includes boosting efforts at their lab in Portland, Oregon. They’ve been focusing on data analytics and software, harnessing these tools to enhance battery performance prediction.
What makes Powin’s offerings unique, you might ask? Their smart investment in advanced sensors is definitely one. These sensors track battery cell temperature, performance, and voltage, thereby ensuring optimal operations. It also allows Powin to offer a performance guarantee for its products, a powerful proposition for potential customers.
The second distinguishing factor is the extra visibility they provide at the cell level. This offers a wealth of data points that drive Powin’s battery operation software and allow the development of predictive analytics, essential for efficient grid operations.
Rounding out their unique approach, they’ve leveraged their acquisition of power electronics company EKS to improve integration of storage with the grid. Thus, Powin has a significant edge in grid integration, clearly positioning it as an industry leader.
Given the recent legislative changes such as the Inflation Reduction Act, the demand for U.S.-based products and support teams has grown considerably. Interestingly, Powin finds customers willing to pay a premium for the expertise they offer.
Supply-band concerns are valid in any commodity-based industry, and grid-scale energy storage is no different. Dominantly, this sector had to compete with the EV industry for essential resources like lithium carbonate. However, the improving global supply and considered dips in EV demand have offered a lifeline, carving out a steady supply for grid-scale storage.
While lithium-ion batteries continue to be the most bankable solution for grid-scale storage, Powin is open and versatile, ready to adapt to emergent technologies over time. With an agile approach, commitment to building U.S-based expertise, and a stronghold in data analytics, the company remains resilient in a dynamic industry.
To wrap it up, if you’re thinking about a solar array for home use or exploring options from solar companies, understanding the developments in the energy storage industry will be a great asset. After all, efficient grid-scale storage is a key facet of renewable energy systems, including solar. The progress made by companies like Powin sets the stage for a future where renewable energy can be an everyday reality.
Stay tuned for more updates and insights into the world of solar. Until then, keep shining the light on the power of the sun!
Original Article: https://pv-magazine-usa.com/2024/01/26/powin-leverages-battery-cell-level-data-for-high-performing-grid-scale-storage/
