Really smart people are working hard on electricity storage research – in other words, making better batteries. When they succeed, it could reduce the price volatility of electricity for wholesalers and consumers.
- “Variability in electricity demand highlights potential roles for electricity storage” from the Energy Information Administration
- Electric power storage section from US Dept of Energy
This isn’t just “pie in the sky” theory; it is moving quickly toward commercial viability. In case you missed it a few months ago in the Wall Street Journal and USA Today, the electric car company Tesla has decided to build a large new battery factory. The folks at Utility Dive have put together a briefing that outlines some of the downstream implications of this factory (link below).
More electric cars on the road means more charging stations and power consumption at apartment complexes. How will you respond? It may be a pain to some, but this is good news for Greenies. Tesla’s latest move is likely to drive down the cost of batteries making all electric cars more affordable over time – and could ultimately make the storage of wind and solar power more viable. Read the Utility Dive Brief.