Herbert was joined by Mitsubishi Hitachi Power Systems (MHPS) and Magnum Development at the event to detail the Advanced Clean Energy Storage (ACES) project in central Utah. They called it the largest such energy storage project in the world.
The partners will work together to develop projects in Spain, the Middle East and South Africa. The projects could add several gigawatt hours of storage capacity by 2022.
Together, Somerset and Brett bring more than 45 years of experience from the energy industry and have collectively overseen development and financing of more than $8 billion in projects.
The panel explored Electric Vehicles in particular, with an emphasis on how the coming transition to an electrified transportation sector will affect the utility grid and the demand curve
FERC Order 841 enables energy storage resources to compete in wholesale power markets and levels the playing field with conventional sources of generation.
FERC Order 841 comes more than a year after FERC concluded the rules governing the wholesale purchase of conventional sources of generation barred energy storage from participating in the markets offered by RTOs and ISOs.
The order enables energy storage resources to compete in wholesale power markets and levels the playing field with conventional sources of generation.
As of the end of last year, 195 utility-scale geothermal units were in operation, totaling 3.7 GW.
While the session orbited around the topic of energy storage, it also addressed multiple ancillary technologies and industries which inform energy storage’s place in the industry.
Panelists at POWER-GEN International shared insights about the benefits to today’s markets for other energy storage technologies, such as pumped storage hydro, flow batteries and compressed air/liquid air.