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[battery{ Eos To Conquer The World? | CleanTechnicaCleanTechnica

Eos Energy Storage is one of the energy storage startups we have highlighted as being a potentially “breakthrough energy storage company.” Before delving into the latest big news from Eos — you know, its plans to take over the world — let me just insert a little bit of context about market potential in the energy storage sector.

I think this phrase gets a bit old to those of us who cover this space, but in case you haven’t heard it, low-cost energy storage is sort of considered the holy grail of the clean energy economy. I will admit that I think it’s a little overhyped. We can get to extremely high penetrations of renewable energy with relatively little energy storage. However, energy storage is a big help. And, in actuality, low-cost energy storage would be a big help for the energy market across the board. We have an extremely small amount of energy storage on the grid. With regards to battery storage specifically, the CEO of Florida Power & Light (a large Florida utility) noted in a utility company CEO roundtable a couple years ago that, “if you took all the battery storage in the world, it could only produce the energy requirements of the world for like 10 minutes.” This results in wasted electricity generation at times of low demand, and very high prices at times of peak demand when all of a sudden peaker power plants have to be turned on (except in Germany and places with high solar energy generation). It’s also the reason why so much backup power capacity (backup power plants) have to be in place, for both renewable and nonrenewable resources.

It’s clear from watching the situation in Germany that, as solar power capacity grows, it won’t be too long before more electricity will be generated in the middle of the day than is needed on the surrounding grid. The same goes for wind power at night. A lot of wind power production has driven wholesale electricity prices below $0.00 in Texas, Germany, and Europe as a whole. So, energy storage becomes increasingly valuable. With it well understood across the industry that wind and solar power are the future and that energy storage costs are projected to drop (due to companies like Eos, as well as simple economies of scale), it’s projected that the energy storage market will indeed grow considerably in the coming years. Here’s a chart on just that from Eos itself:



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