Ever since governments started getting serious about developing renewable energy, naysayers have been arguing that it’s a pipe dream — after all, the sun doesn’t always shine or the wind doesn’t always blow. The questions raised always lead back to energy storage.
We’ve seen ideas about how to store renewable energy when it’s abundant and cheap and use it again when demand is higher — from wind turbines that incorporate battery storage to vehicle-to-grid technology that uses electric cars’ batteries as temporary storage to supplement the grid. But those concepts are just the beginning.
In fact, a recent report suggests that revenue from the distributed energy storage market — meaning battery packs and other storage devices located directly at homes and businesses (many of which now generate electricity through solar) — could exceed $16.5 billion by 2024. Another report predicts $68 billion in revenue in the same time frame from the grid-scale storage market. This includes large-scale battery packs, hydro-storage systems that use cheap abundant electricity to pump water uphill to drive turbines later on, or even solar thermal systems that store energy as heat in molten salt.
This is a quickly changing landscape…
We are at a transformational moment in the energy sector. As more of the industry begins to understand the value of storage, we are seeing the launch of more initiatives that will be able to tap into the unrealized potential of energy storage. Alevo continues to forge ahead into the energy storage market, setting the […]
Alevo’s plans to add additional production lines and equipment at its battery manufacturing facility in Concord will create just over 200 jobs and invest $251.5 million into the local economy.
Sergey Buchin will be joining Alevo as the Chief Operating Officer. Sergey’s experience prior to Alevo includes key leadership roles in manufacturing, investing, and consulting at companies such as Intercomp, InvesTEK, Arbat Consulting, and BSK. He has a Bachelor’s degree in law from Saint Petersburg University, and has studied at and received degrees from Russian […]