Accelerating solar+storage key to boosting efficiency and resilience, says research

About 92% of energy industry professionals surveyed in the latest Industry Insights research by DNV, a leading independent expert in risk management and assurance, agreed that accelerating solar-plus-storage in the next five years will be crucial for boosting the efficiency and resilience of global energy networks.

"Combining solar and storage also opens a wide range of possibilities to provide 100% renewable energy for society in a reliable and cost-efficient way. It's important that we act fast for the collective good, remove barriers for clean energy and plan for long-term progress," said Ditlev Engel, CEO of Energy Systems at DNV.

Another research by DNV forecasts that solar will grow 20-fold globally by 2050, and solar installations are increasingly being integrated with dedicated storage solutions. Approximately 20% of all solar PV installations will incorporate dedicated storage within the next ten years. While by the midpoint of this century, the proportion is expected to increase to 50%.

Solar Plus Storage Under Blue Sky

The forecast also shows that despite the current higher costs, solar-plus-storage holds a capture price advantage over standard solar PV plants. By 2038, the capture price advantage of solar-plus-storage over regular solar PV plants will surpass the cost disadvantage on a globally averaged basis.

Respondents working in the solar industry clearly see investment in storage as a priority. Around two-thirds of them currently have business interests that generate revenue in this sector, and 56% of them plan to increase their investment in the upcoming year.

In terms of barriers that hinder growth, 63% of respondents stated the sector is experiencing a labor shortage. 62% revealed that their organization is finding it increasingly difficult to attract employees with the required skills for the energy transition.

Moreover, 47% believe that inadequacy, delays or surprises in public policy denote the biggest risk to their organization's near-term success. Yet reforms to permitting and licensing processes are critical to meeting net-zero targets, stated 87% of solar industry respondents.

Though barriers ahead, digital tools that speed up the implementation and management of solar-plus-storage projects will help to drive the uptake of this technology, according to Industry Insights research.

=
2nd Annual AgriVoltaics EuropeNov 7 - Nov 9, 2023Amsterdam, Netherlands
Agrivoltaics is the clean energy solution that helps farms and agriculture to protect themselves from great weather conditions and other damaging factors. Innovative companies in this field design new solar…
More Details >

Leave a Reply

Your email address will not be published. Required fields are marked *

CLOSE
Pop-up Subscribe Header

Subscribe to get updates delivered to your inbox.

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram