The U.S. energy storage market will reach $4.5 billion by 2023, according to Wood Mackenzie Power and Renewables. Behind-the-meter energy storage will account for more than half of the annual market in dollar terms by 2021.
To date, growth has been largely driven by storage initiatives and demonstration projects in state policy, rate-setting and incentives. Changes in federal rules for energy storage markets requiring equal treatment of energy storage with other power sources promise to drive even more adoption.
On February 27, MIT Enterprise Forum (MITEF) Cambridge’s CleanTech Industry Group will host Energy Storage: New Business Models Fuel Rapid Growth. This interactive session will highlight what startups need to know to participate in the rapidly growing clean power system. Set for the Bartos Theater at the MIT Weisner Building, Northbridge Energy Partners Principal and Forbes columnist Peter Kelly-Detwiler will moderate the discussion featuring experts including:
- Dan Berwick, general manager, Energy Storage, Borrego Solar
- Alicia Barton, president and CEO, New York State Energy Research and Development Authority (NYSERDA)
- Kelly Speakes-Backman, CEO, Energy Storage Association
- Charlotte Ancel, director, Strategic Development, Eversource
- Joe Crespo, CEO, Genbright
Panelists will explore what startups need to know to participate:
- What government incentives and policies (local, state, federal) are in place to encourage greater adoption of energy storage in the commercial, industrial and residential markets?
- What storage technologies and services produce revenue streams now? What markets will become valuable in the next five years?
- How have investors and utilities influenced the development of new business models for both established companies and startups? Which of these models are most likely to be successful?
The event, which will be from 5:30 p.m. to 8:30 p.m., is sponsored by IE-Club Boston, CHEN PR and Massachusetts Clean Energy Center. For more information and to register for the event, visit the Web site. The session will be live streamed, and attendees can buy a ticket for the live streamed option to watch it online.