Renewable Energy Storage: A Policy Perspective

The energy storage market has grown from $111 million in 2013 to $441 million in 2015 and is expected to exceed $2.9 billion by 2021. Renewable energy storage deployment is propelling incredible advances in battery storage technology that have allowed the industry to grow at this rapid pace. While the battery storage industry may be considered mature, with many producers in the market releasing reliable systems, battery storage continues to rapidly evolve and faces numerous barriers before it can prevail in the power and energy sector. These barriers include performance and safety, regulatory and utility acceptance, economic, and political barriers. This report aims to analyze and address these various barriers in order to realize the possibility of a cleaner, more efficient energy market.