Rory McCarthy, senior storage analyst for Wood Mackenzie Power & Renewables, illustrated for attendees how the business case for using renewables in place of natural gas is becoming more compelling following declines in solar and wind costs.
That business case is also improving as a result of massive increases in battery storage, where the U.S. leads the world in terms of operational and planned capacity.
Today, storage capacity amounts to around 6 gigawatt-hours worldwide, but Wood Mackenzie predicts a more than tenfold increase, to at least 65 gigawatt-hours, by 2022. The U.S. will continue to lead this build-out, thanks to its more mature market.
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