The Executive Summary of this updated white paper comes from Green Charge. For the complete paper, register here: https://goo.gl/mQWaZT
For much of the past four decades, energy efficiency has been the focus of electricity cost-saving initiatives. We have changed light bulbs, swapped out old appliances, insulated our buildings, and added solar systems. The efficiency gains have slowed, however, and the next savings frontier will come from power efficiency. Through a combination of distributed energy storage and sophisticated software, our society can control power more efficiently and increase utilization of trillions of dollars of grid assets already in place. Intelligent energy storage can reduce the stress on our electric grid while helping businesses save money on their monthly electric bills.
Energy efficiency is no longer enough
Out of the oil crisis of 1973, the idea of energy efficiency was brought into the American consciousness. It has been a tremendous implementation by all accounts. Economists have estimated that the adoption of more efficient products and services is responsible for 60 to 75% of the increase in energy productivity since 1970.1
Despite supersized homes, vehicles, and comfort, per-capita energy use has actually decreased from 1970 to 2010.2 However, after four decades of replacing light bulbs, wall insulations, and inefficient appliances, most of the low-hanging fruit is gone. It is increasingly difficult to eke out more savings on the energy side, and the solutions are becoming complex and costly.
The American Council for an Energy-Efficient Economy (ACEEE) publishes an annual scorecard by state on policy and implementation efforts, which provides quantitative data on dollars spent and energy saved. According to ACEEE’s scorecards between 2006 and 2011, the top 10 U.S. states have on average spent 30% more year over year in energy efficiency measures to achieve the same amount of kWh savings.
Filed Under: Energy storage