All Reports
2Q 2021

Renewables plus Storage Hybrid Power Plants

Hybrid Solar plus Storage and Storage plus Applications: Global Market Analysis and Forecasts

Energy storage technologies are capable of capturing usable energy for use at another time, particularly when it is most needed or more valuable. Deploying energy storage technologies is one solution for improving grid flexibility and facilitating large amounts of intermittent renewable energy onto the grid. Multiple energy storage technologies are available in the market with a wide range of power ratings, storage capacities, response times, efficiencies, capital costs, and scalability. However, lithium ion (Li-ion) batteries have become the default technology for new projects globally, projected to account for 85% of new project capacity in megawatts in 2021.

Battery energy storage systems (BESSs) provide an interchangeable array of grid and customer services. Integrating energy storage strategically across the electricity system can result in more efficient utilization of other grid resources, defer more costly upgrades or investments, and increase the range of operational possibilities for the electric system. In addition, storage can scale to address needs previously met by thermal power plants. The pairing of large-scale renewable resources with BESSs mitigates the previous challenge of renewables being intermittent resources. When paired with BESSs, renewables can be dispatched to provide grid capacity and ancillary services such as frequency regulation and operating reserves.

This Guidehouse Insights report provides global forecasts for annual deployments of new utility-scale renewables plus storage projects in terms of power capacity (megawatts) and energy capacity (megawatt-hours). These forecasts are segmented by region and technology. Additional insight is provided through the technology pricing forecasts that are included in this report. All forecasts cover a 10-year period from 2021 to 2030. Forecasts provided in this report have been revised from 2020 projections to account for new projects in the regional pipeline and expected disruptions from the coronavirus pandemic.

Pages 43
Tables | Charts | Figures 29
  • What is driving the growth of renewables plus storage hybrid power plants?
  • What new regulatory policies are increasing renewables plus storage hybrid power plant opportunities?
  • How do the economics of renewables plus storage hybrid power plants vary by country and region?
  • What new markets are opening up for renewables plus storage hybrid power plant technologies?
  • How are market participation models and government policies improving the bankability of renewables plus storage hybrid power plants?
  • What is the long-term potential of renewables plus storage hybrid power plants in an evolving electric power industry?
  • How is the emergence of new hybrid configurations changing the energy storage plus renewables landscape?
  • What are the market forecasts, in capacity and revenue, for renewables plus storage hybrid power plants through 2030?
  • Advanced battery OEMs
  • Inverter and other balance of system vendors
  • Government and regulatory agencies
  • Non-governmental organizations
  • IoT companies
  • Energy storage integrators
  • Battery storage aggregators
  • Solar PV OEMs
  • Wind turbine OEMs
  • Energy storage integrators
  • Energy storage hardware vendors and technology firms
  • Energy storage developers and independent power producers
  • Engineering, procurement, and construction (EPC) firms
  • Renewable energy development financing companies
  • Smart grid controls and software companies
  • Utilities
  • Investor community

1. Executive Summary

1.1   Market Introduction  

1.2   Market Forecasts

2. Market Issues

2.1   Market Drivers

2.1.1   Storage plus Power Purchase Agreement Price Declines

2.1.2   Fossil Fuel Power Plant Retirements

2.1.3   Utility Planning Challenges

2.2   Market Barriers

2.2.1   Forecasting

2.2.2   Market Mitigation and Physical Withholding

2.2.3   Market Participation and Scheduling Software

2.2.4   Capacity Accreditation

2.2.5   Offer Parameters

2.2.6   Interconnection

2.2.7   Resource Planning

2.3   Storage plus Applications

2.3.1   Curtailment and Transmission Congestion

2.3.2   Energy Price Arbitrage

2.3.3   Renewables Output

2.3.4   Capacity Markets and Resource Adequacy

2.3.5   Ancillary Services

2.3.6   Remote Microgrids

3. Technology Issues

3.1   Renewable Energy Hybrid System Configurations

3.2   Solar plus Storage

3.2.1   AC Coupling versus DC Coupling

3.2.1.1   AC Coupling Advantages

3.2.1.1.1   Flexibility

3.2.1.1.2   Retrofits

3.2.1.2   DC Coupling Advantages

3.2.1.2.1   Efficiency

3.2.1.2.2   Inverter Load Ratio

3.2.1.2.3   Low Voltage (Low Power) Harvesting   3.3   Wind plus Storage

3.3.1   Notable Wind plus Storage Projects

3.4   Emerging Multi-Technology Renewable Hybrid Systems

3.5   Energy Storage Technologies for Renewables plus Storage

3.5.1   Flow Batteries

3.5.2   PHS and CAES

3.5.3   Thermal Energy Storage

3.5.4   P2G

4. Market Forecasts

4.1   Methodology and Assumptions

4.1.1   Coronavirus Pandemic Impacts

4.2   Forecasts by Region

4.3   Forecasts by Technology and Duration

5. Conclusions and Recommendations

6. Acronym and Abbreviation List

7. Table of Contents

8. Table of Charts and Figures

9. Scope of Study, Sources, and Methodology, Notes

  • Annual Installed Renewables plus Storage Hybrid Power Plants Power Capacity by Region, World Markets: 2021-2030
  • Utility-Scale ESS CAPEX Assumptions by Technology, World Market Averages: 2020-2029
  • Annual Installed Utility-Scale Solar PV plus Storage Hybrid/Colocated ESS Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Wind plus Storage Hybrid/Colocated ESS Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Renewables plus Storage Hybrid/Colocated ESS Energy Capacity by Generation Type, World Markets: 2021-2030
  • AC-Coupled System
  • DC-Coupled System
  • AC-Coupled Utility System
  • The Complexity of AC-Coupled and DC-Coupled Energy Storage before the California Public Utilities Commission’s Net Energy Metering Decision
  • Emerging Multi-Technology Renewable Hybrid System Design
  • Max Bögl Wind AG Pilot Project in Gaildorf, Germany
  • Tractebel Offshore Hydrogen Production Concept

 

  • Utility-Scale ESS CAPEX Assumptions by Technology, World Market Averages: 2020-2029
  • Utility-Scale Li-Ion Battery plus Solar PV System Pricing by Component, 75 MW/AC; 20 MW/80 MWh System, World Market Averages: 2020-2029
  • Annual Installed Utility-Scale Solar PV Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Wind Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed UES Power Capacity by Region, All Technologies and Application Segments, World Markets: 2021-2030
  • Annual Installed UES Energy Capacity by Region, All Technologies and Application Segments, World Markets: 2021-2030
  • Annual Solar PV Deployment Revenue by Region, World Markets: 2021-2030
  • Annual Wind Deployment Revenue by Region, World Markets: 2021-2030
  • Annual Installed UES Deployment Revenue by Region, All Technologies and Application Segments, World Markets: 2021-2030
  • Annual Installed Utility-Scale Solar PV plus Storage Hybrid/Colocated Combined Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Solar PV plus Storage Hybrid/Colocated Solar PV Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Solar PV plus Storage Hybrid/Colocated ESS Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Solar PV plus Storage Hybrid/Colocated ESS Energy Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Wind plus Storage Hybrid/Colocated Combined Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Wind plus Storage Hybrid/Colocated Wind Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Wind plus Storage Hybrid/Colocated ESS Power Capacity by Region, World Markets: 2021-2030
  • Annual Installed Utility-Scale Wind plus Storage Hybrid/Colocated ESS Energy Capacity by Region, World Markets: 2021-2030
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