While harnessing the potential of wind power is a key energy goal of governments around the world, the sector suffers from the fact that wind energy is non-coincident, meaning it tends to be generated at times when it cannot be used or can only be sold at off-peak rates, NanoMarkets’ analysts said.
Other challenges include the highly unpredictable and uncontrollable nature of wind, and the fact that areas that have the highest potential for wind energy generation are also often the most remote from end users like homeowners, factories and office buildings.
Still, groups like the American Wind Energy Association in the US contend that the amount of wind energy available is much greater than the national demand in energy.
And therein lays opportunity, the NanoMarkets’ analysts said.
According to the report, “Energy storage adds value and reduces risk for the wind energy industry by decoupling wind energy production and energy demand.”
“It makes wind-generated energy less dependent on the weather, enabling it to be sold at better prices,” the report continued. “Storage also helps optimise the use of scarce grid capacity, improving the opportunity for selling wind generated energy to users in different parts of the country or even different countries.”
As a result, the analysts conclude, “there is a large and growing opportunity for energy storage firms of many kinds to sell into the rapidly growing wind energy sector.”
The report goes on to analyse and quantify the requirements for wind-power related storage and where in the wind power industry purchases of energy storage systems are likely to be made. It also examines the many different energy storage technologies that might serve the needs of wind storage, ranging from established technologies such as flywheels to lithium ion batteries.
The report concludes with a discussion of the energy storage needs for wind power will vary depending on what part of the grid they are deployed in; transmission, distribution or micro grids.
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