Reduce Wholesale Demand and Energy Costs with Utility-Scale Battery Storage
Convergent has over 500 MW/800 MWh of storage and solar-plus-storage capacity operating or under development. Convergent is the most dependable provider of energy storage solutions in North America. Since 2011, we’ve built projects for and with utilities across the country and have a wealth of knowledge to help our partners achieve successful outcomes.
Energy storage allows power to be deployed at more strategic times, insulating utilities against rising wholesale demand and energy costs. The most common form of energy storage today is lithium-ion-based battery storage, which comprises over 90% of large-scale battery storage systems in the United States. The cost of batteries has dropped 80% in the past decade, largely due to the proliferation of electric vehicles, contributing to the increasing adoption of storage, particularly in front-of-the-meter applications.
In the U.S., a record 1.2 GW of storage was installed in 2020, a number that would surely have been higher were it not for the impact of COVID-19. WoodMac forecasts that utility-scale energy storage solutions will grow by 7.5x between now and 2026, equating to over 100 GWs of new projects in the next five years in the United States alone. These projects will address the largest challenges facing the electricity grid.
There are many applications for battery storage beyond cost reduction: battery storage increases capacity, improves reliability, supports renewables integration and defers transmission upgrades. Because of its versatility and ability to solve many challenges faced by utilities, battery storage is often referred to as the “swiss army knife” of grid solutions.
When Convergent was founded in 2011, battery storage was still a relatively new concept. Ten years later, it has been adopted on a global scale. Convergent’s decade of experience and accomplishment in a rapidly evolving sector is one of the things that sets it apart from other developers. The company is still run by its founders, who developed the first Non-Wires Alternative for utility infrastructure back in 2015 and continue to identify and develop new applications for storage.
About half of our utility-scale projects are paired with solar PV. This allows us to charge the battery with solar energy and decrease dependence on the grid. It also increases the value and flexibility of an intermittent renewable resource. For utilities who already have solar energy, we can easily add a battery to help you and your community get the most out of it. See why solar and storage are better together.