A Storage Solution Is in the Air

Renewable energy sources like wind and solar have a problem: When the wind stops or it is night, they stop generating power. That drawback has focused minds on the question of how to store electricity generated by intermittent sources.

The global market for energy storage services could be worth as much as $31.5 billion in 2017, according to Brian Warshay, an analyst at Lux Research, a consulting firm based in Boston.

The ultimate goal of grid operators is to match the power they deliver to the needs of their customers. Utilities have traditionally increased production from gas-fired power plants when needed to smooth supply and demand, but energy storage systems could, in theory, do the job more quickly and cleanly. Depending on where the storage is situated, it could also reduce the need for new transmission lines.

With increased interest has come investment: Venture capitalists and governments are funding research into batteries, pumped hydroelectricity, flywheels and compressed air.