BESS stands for Battery Energy Storage Solution.
Renewable generation are variable energy resources (VER) that produce green energy but whose output is variable. BESS enables storage of energy when there is an excess of generation and discharge when demand is high.
There are many good reasons to participate including revenue stacking, short(er) payback period versus other assets, right way risk on volatility, hedgeable risks, etc.
It is not too late to participate in BESS. We are in the first innings of this phenomenon. BESS economics are still compelling. Contact us for more information about battery project economics.
BESS costs have been steadily decreasing every year, year-on-year. As of December 2020, BESS costs approximately $425 per kWh.
Using current technology (Feb 2021), one can install at least 160MWh per acre of land.
More than 75% of the world's supply of batteries come from China.
Lithium, a key component of batteries, comes predominantly from South America, Australia, and China.