Author Robert Walton @TeamWetDog
Utilities are beginning to see the impacts of recently installed grid edge technology, and a major goal of storage programs is peak demand reduction. The virtual power plant GMP is developing with Tesla is expected to save up to $3 million across the program's lifetime.
As the price of battery storage declines, residential interest has grown — particularly when combined with distributed solar. GTM Research predicts a four-fold increase in the market, with residential installations rising from 19 MW in 2017 to 74 MW this year.
GMP's customers can buy the Powerwall 2 for $1,500 or pay $15 per month, less than half the cost of a pilot the utility ran two years ago. The offering illustrates how rapidly the cost of storage is declining — a similar pilot run with Tesla's first Powerwall in 2015 cost customers $37.50/month.
According to the utility, the batteries can supply all of a home's needs for up to 12 hours and can continuously supply 5 kW, or provide up to 7 kW at peak demand.
Tesla has continued to improve its residential battery offerings. Earlier this year, the company rolled out a software update that allowed Powerwall 2 owners to optimize charging and discharging around time-varying rates. The company said it plans to triple battery deployments this year. In the fourth quarter of last year, it deployed 143 MWh of energy storage products, growing 45% over Q4 2016.
View original article on Utility Drive
July 23, 2018