IREM Global Summit | Chicago | October 10-13

IREM Global Summit | Chicago | October 10-13

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Seeing a Bright Future for Energy Storage

September 13, 2017 | Kevin Brass
This is an excerpt from an article originally published by the Urban Land Institute. This excerpt is published here with permission. Read the full article here.

Commercial property owners are rethinking their skepticism toward energy storage systems, with battery prices dropping and third parties offering new financing models.

“Everybody is recognizing that it is a necessary component of the overall [sustainability] picture,” says Sara Neff, the senior vice president of sustainability at Kilroy Realty Corporation, the California-based real estate company.

The first quarter of 2017 was “the biggest quarter in history for the U.S. energy storage market,” according to a tracking report from the Energy Storage Association. Led by large-scale utility installations, primarily in California, the megawatt (MW) hours of storage deployments doubled in 2016, compared with the previous year, according to the association’s data.

This year’s list of big announcements includes Tesla’s deal to build what is described as “the largest lithium-ion battery storage project in the world” in South Australia. The Tesla batteries will be able to store 100 MW of power, which is enough to supply more than 30,000 homes, the company says.

To learn more about trends in battery storage – including on private sites like office buildings or apartment complexes – read the full article from ULI here.

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