Energy storage boom ahead? Germany jumps on the subsidy bandwagon
By: SGN Staff
Quick Take: British market researcher Sam Wilkinson predicts that Germany will soon join Japan and California with subsidies for energy storage -- more specifically, solar PV energy storage. He thinks it will kick-start the storage market the way Germany's feed-in tariff sparked solar PV previously. I think he is right.
I wouldn't want pay the energy prices in California, Japan or Germany, which are high for many reasons but partly because of expensive subsidies and mandates. But isn't it nice that they will spend all that money and take all that risk to bring down prices for the rest of us?
And what will cheaper energy storage mean to the electric power industry? EHS News quotes FERC chairman Jon Wellinghoff who said that once storage is brought into the equation it is "game over" for traditional generation because solar will "overtake everything." - By Jesse Berst
New German Government subsidy kick-starts solar energy storage market, says Sam Wilkinson, Research Manager at IHS.
As earlier predicted by IHS, a German energy storage subsidy is forecast to kick-start the adoption of solar PV energy storage systems in a similar way as its feed-in tariff system ignited the PV industry eight years ago.
The adoption of residential PV energy storage in Germany will accelerate in 2014 as a result of this subsidy and falling prices of the storage system. Similar storage subsidies are available in both Japan for Li-Ion based storage solutions in the residential sector, and in California where advanced energy storage systems can be subsidized up to 3 MW in size.