Why the hot money is chasing energy storage

What do Bill Gates and Warren Buffett have in common? Apart from being very, very rich, it is a growing interest in battery storage and other “smart” technologies that will redefine the way our electricity grid operates – hopefully to the benefit of the consumer.

Gates has built up a collection of energy storage investments – including Aquion Energy, Ambri, and LightSail - and Buffett is a major investor in Chinese electric car and battery developer BYD, soon to unveil a home battery storage solution in Australia.

Last week, Gates and well-known cleantech investor Vinod Khosla last week bought into Varentec, a US company that is developing “smart” technology that will link storage devices and renewables, and lead to what Khosla describes as “cost-effective, intelligent, decentralized power grid solutions.”

Energy storage, as described by investment bank Citi in its new “Energy Darwinism” report, is likely to be the next solar boom. Citi says the main driver of this investment will not be just to make renewables cost competitive, because they already are in many markets – but for the need to balance supply and demand.

This, in turn, will make solar and other renewables even more attractive. It may even mean the end to the domination of centralised utilities, as storage will allow the industry to split into centralised backup (based around the old rate-of-return regulated utilities model) and much smaller “localised” utilities that harness distributed generation such as solar and storage.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Tile Replacement Mount from Quick Mount PV

Tile Replacement Mount from Quick Mount PV

The Tile Replacement Mount provides a fast and easy way to install solar on tile roofs while protecting against water intrusion. Simply remove the tile and replace it with the Tile Replacement Mount. Works with all standard curved and flat tile roofs, and all standard rail-based racking systems. Flashed at both the deck and top levels, the mount is fully engineered to meet code requirements and industry best practices. The Tile Replacement Mount features Quick Mount PV's patented Elevated Water Seal technology for optimal waterproofing. Get a free sample and see for yourself!