Many view storage as a transformative force that could truly disrupt the energy industry and empower consumers in a way that has previously been impossible. The question is, will the prominent utilities of today still be part of the energy landscape of tomorrow? And if so, what will they look like?
The recent formation of the Office of Climate Change and Renewable Innovation – which has identified storage as a priority – is the latest in a string of moves by both government and industry that reaffirm the now well-held view storage will play a key role in the future of the energy market. As such, incumbent utilities are currently reassessing their business models and re-aligning themselves to be able to respond to the challenges that a widespread uptake of storage will bring – as well as position themselves to take advantage of the opportunities it creates.
One of the key uncertainties for utilities is how this transformation will unfold, and much of that depends on their actions.
At this point in time, many within the industry believe there are three clear pathways for storage to be rolled out into the market: through private purchase and ownership, through a retailer led roll out – which could include innovative financing models, as an extension of existing electricity infrastructure – a scenario which would heavily involve networks – or as a combination of these avenues.
How storage will penetrate the market and at what rate are two of the core questions posited to speakers at the Electricity Storage Future Forum, being held in Sydney from February 23-25, 2016.
The conference will gather more than 25 industry experts to examine storage technology, economics, policy and implications for Australian utilities, with contributions from Horizon Power CEO Frank Tudor, Origin solar and emerging businesses general manager Phil Mackey, and Transgrid asset management executive general manager Gerard Reiter.
At this stage, how storage will impact the energy market is, in many ways, still unclear. Attend the Electricity Storage Future Forum, hear from the experts and further inform your organisations view about the outlook for electricity storage.
For more information, visit www.questevents.com.au.