As 2018 gets underway, it is clear that the energy storage industry is achieving significant growth worldwide, as nations switch to cleaner energy in an attempt to decarbonise, expertise and knowledge are two defining factors for success in the market.
In an evolving UK marketplace, the leaders are those who continue to innovate and enhance their offering in line with the increasing expectations of customers in a technologically advanced and dependent environment, whilst assisting the grid in balancing its demand.
With the global energy storage industry forecasted to double six times between now and 2030 to a forecasted minimum of 125 gigawatts of capacity by the end of the period, energy storage is set to be at the forefront of the future energy landscape.
A major factor in this is due to the decarbonisation efforts of many nations facilitating the increase in usage of renewable generation whilst simultaneously phasing out fossil fuels. However, the intermittency of renewable generation requires smoothing out and energy storage is a vital component of this, as it can store excess energy from renewables and time-shift them for usage later on when the energy is needed and therefore does not go to waste.
Powerstar’s innovative ethos and client first approach has enabled it to continue to enhance its energy storage solution, VIRTUE, since its launch and provide a platform to overcome the problems that often plague organisations and the grid alike.
Based on 2017 figures, which estimate the behind-the-meter (BtM) battery energy storage system (BESS) market to be 21.5MW, Powerstar’s energy storage solution, VIRTUE, is a clear market leader as it holds more than 75% of the market based on its 2017/2018 deployment.
The biggest contributor to the demand of Powerstar’s VIRTUE, is the full Uninterruptible Power Supply (UPS) capability that it can provide. This has been heightened due to the increase of supply issues in recent years and the release of statistics that emphasise that energy related failures can total as much as 17% of a company’s annual revenue which is a significant portion for any company to lose.
The UPS functionality provided by VIRTUE can seamlessly support the load within milliseconds in the event of an energy related failure, allowing businesses to circumvent the costly repercussions and damages that power failures can cause, thereby maintaining an organisations operational stability, increasing its energy resilience and minimising the bottom line costs of energy related failures.