Energy storage solutions can drive down the lifetime electricity cost of solar assets and maximise revenues, especially now that robust tax incentives and credits have strengthened the business case of solar-plus-storage.
Project developers are increasingly hybridising solar PV projects with battery technology. Solar-plus-storage projects demonstrate that renewable energy can become a dispatchable asset, offering a flexible and reliable way of delivering clean energy without the high capex of nuclear and the high opex of fossil fuels.
With solar-plus-storage projects becoming commonplace globally, research organisation BloombergNEF (BNEF) forecasts that by 2030, 55% of energy storage builds will be paired with solar to provide energy shifting. As the market evolves, system design becomes an important consideration when developing and managing complex renewable projects while also generating value-based asset management.
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