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A new report from Navigant Research, a U.
S.
market research firm, analyzes the benefits of fossil fuel (ESFF) energy storage solutions to maximize the efficiency, value and longevity
of fossil fuel power plants.
According to the report, the development of energy storage is closely
related to the integration of renewable energy.
However, energy storage is one of
the most versatile technologies in the grid.
A new generation of projects that combine energy storage with fossil fuel (ESFF) power generation is changing the paradigm
for energy storage.
Alex Eller, senior research analyst at Navigant Research, said: "At a time when market conditions force power plants to retire prematurely, energy storage can increase revenue and reduce plant operating costs
.
In the same way that hybrid vehicles employ battery storage to increase efficiency and reduce fuel consumption, energy storage systems integrated with traditional power plants can significantly save fuel while improving the overall resiliency
of the grid.
”
According to the report, market conditions and policies are driving existing power producers to make acquisitions and launch new hybrid projects
.
The combination of storage and generators also provides opportunities
for new products and services from companies serving large utility markets and commercial and industrial users focused on distributed generation technologies.
A new report from Navigant Research, a U.
S.
market research firm, analyzes the benefits of fossil fuel (ESFF) energy storage solutions to maximize the efficiency, value and longevity
of fossil fuel power plants.
According to the report, the development of energy storage is closely
related to the integration of renewable energy.
However, energy storage is one of
the most versatile technologies in the grid.
A new generation of projects that combine energy storage with fossil fuel (ESFF) power generation is changing the paradigm
for energy storage.
Alex Eller, senior research analyst at Navigant Research, said: "At a time when market conditions force power plants to retire prematurely, energy storage can increase revenue and reduce plant operating costs
.
In the same way that hybrid vehicles employ battery storage to increase efficiency and reduce fuel consumption, energy storage systems integrated with traditional power plants can significantly save fuel while improving the overall resiliency
of the grid.
”
According to the report, market conditions and policies are driving existing power producers to make acquisitions and launch new hybrid projects
.
The combination of storage and generators also provides opportunities
for new products and services from companies serving large utility markets and commercial and industrial users focused on distributed generation technologies.