I haven't read the full report yet, but this is interesting, in that National Grid are reducing deployment forecasts when most commentators are increasing theirs. Certainly it has been a sector not short on Hype, especially in the behind the meter arena. Elon Musk and Tesla leading but not alone in that. That said a considerable amount of our revenues this year have come from energy storage clients, at all scales. A lot of that has been in Germany and the developing world, but the UK too.
As the article suggests, we're all making at best educated guesses. There are so many unknown variables, especially around energy policy, in the UK in particular, but globally too. One thing is for sure, you need to stay on your toes. We speak daily to clients, candidates and commentators in the energy storage sector. I'm sure this is exactly why we're so successful recruiting top talent in energy storage, for global super-powers like LG Chem, to innovative start-ups like Faradion.
National Grid has reduced its forecasts for electricity storage capacity in the UK down to just 10.7GW by 2050 in the most ambitious scenario set out within its future projections for the energy sector. The latest Future Energy Scenarios (FES) document, published on Thursday, suggested the greatest level of storage would be deployed under its 'Consumer Power' scenario, which predicts a highly economic market driven by innovation over environmental concerns. However, in the same scenario in 2016’s document, National Grid predicted 18.3GW of storage by 2040, with both years’ forecasts suggesting storage would predominantly be used at the distribution network level to accommodate rising local energy.