Energy Storage
Developing energy storage technology to store electricity so it can be available to meet demand whenever needed would represent a major breakthrough in the electric power industry. Energy storage devices located throughout the grid can provide dispatchable power required to supply customers during times of peak load, decreasing the use of expensive plants that utilities power up as a last resort. Energy storage technology is also crucial for increased use of clean renewable energy, whose power output cannot be controlled by grid operators.
A major challenge being addressed by the U.S. Department of Energy is to reduce the cost of energy storage technology and to accelerate market acceptance. The Electric Drive Battery and Component Manufacturing Initiative, includes $1.2 billion for battery technology.
Private investors are also seeing the new opportunities: Ernst & Young reported that energy storage technology for vehicles and the grid is one of the only bright spots for US Venture Capital investments into clean technology companies in the first quarter of 2009.
About Smart Grid Network™
Smart Grid Network™ is an on-line social network accessible at SmartGrid.com that empowers people around the world to share their views on how a smart grid can contribute to sustainable development and connects interested consumers with smart grid solution providers
About Adica
Adica is global provider of advanced analytics for evaluating the impact of smart grid technology, consulting services for smart grid roadmap development and business case evaluation, and training for workforce development.