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Grid Batteries Are Poised to Become Cheaper Than Natural-Gas Plants in Minnesota
https://www.technologyreview.com/s/608273/grid-batteries-are-poised-to-become-cheaper-than-natural-gas-plants-in-minnesota/Grid Batteries Are Poised to Become Cheaper Than Natural-Gas Plants in Minnesota
A new report suggests the economics of large-scale batteries are reaching an important inflection point.
by Michael Reilly | July 12, 2017
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A new report on the future of energy in the state should turn some heads (PDF). According to the University of Minnesota’s Energy Transition Lab, starting in 2019 and for the foreseeable future, the overall cost of building grid-scale storage there will be less than that of building natural-gas plants to meet future energy demand.
Minnesota currently gets about 21 percent of its energy from renewables. That’s not bad, but current plans also call for bringing an additional 1,800 megawatts of gas-fired “peaker” plants online by 2028 to meet growing demand. As the moniker suggests, these plants are meant to spin up quickly to meet daily peaks in energy demand—something renewables tend to be bad at because the wind doesn’t always blow and the sun doesn’t always shine.
Storing energy from renewables could solve that problem, but it’s traditionally been thought of as too expensive compared with other forms of energy.
The new report suggests otherwise. According to the analysis, bringing lithium-ion batteries online for grid storage would be a good way to stockpile energy for when it’s needed, and it would prove less costly than building and operating new natural-gas plants.
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