Powering Up: Lockheed Martin Set to Take Energy Storage to the Next Level
Energy storage just had its biggest year yet. In fact, according to the Energy Storage Association and GTM Research, the industry deployed 221 megawatts worth of energy storage systems in 2015 in the United States alone – a 243 percent increase since 2014.
And the arrow is still pointing up. By 2020, it’s projected that 1.7 gigawatts of energy storage will be deployed per year in the U.S. alone.
In simpler terms – that’s a lot of energy. It’s enough to power about 1.2 million homes – or almost as much energy as the Hoover Dam is capable of creating!
So What’s It Mean?
“The surge in renewable energy use, urbanization and grid disruptions are placing more demand than ever on power providers to ensure stable, reliable access to electricity,” said Richard Brody, Lockheed Martin Energy’s director of Sales and Marketing for Energy Storage. “At the same time, commercial and industrial businesses are looking at energy storage options to significantly reduce their electricity costs.”
While renewables – such as solar or wind power – are producing more and more energy, capturing this energy for when it’s needed is a challenge. Energy storage can store the energy from these sources and then release it whenever there is a peak in demand. Storage can also “firm” renewable power – making its output more predictable and schedulable for electric grid managers, and thereby raising its value.
In short, the demand for efficient, reliable and affordable ways to store energy is growing fast – and the energy storage industry is stepping up to the plate. First up: Lockheed Martin Energy.
GridStar™ Up to the Challenge
Lockheed Martin Energy offers turn-key energy storage systems for commercial, industrial, and utility customers.
“Our GridStar™ energy storage solutions save our customers money, enable a more efficient and secure electric grid, and accelerate the adoption of renewable wind and solar energy,” Brody continued. “Backed by a full Lockheed Martin warranty, our GridStar™ modular energy storage systems are designed for performance, reliability, and low total cost of ownership.”
The GridStar™ Lithium-Ion
For short and medium duration energy storage, the GridStar™ Lithium-ion system can help customers reduce electric bills, help utilities defer costly transmission and distribution infrastructure upgrades, and enable the integration of behind-the-meter customer renewable electricity production.
Lockheed Martin has a long history of designing and integrating energy storage systems. Using this experience, Lockheed Martin Energy has designed a new system to meet current customer needs. Our GridStar™ Lithium-Ion systems offer a complete all-in-one AC-AC solution, in a compact, easy-to-install configuration, wrapped by a warranty from a company with the strength and the ability to partner with our customers for the long-term.
GridStar™ Lithium-ion is available right now. Initial customer installations will begin this year.
“With Lockheed Martin’s unparalleled technology innovation and systems integration, coupled with our strong customer focus and financial stability – we’re uniquely positioned to help commercial and industrial business, as well as electric utilities and project developers,” Brody said.
The GridStar™ Flow
There is also great opportunity for long-duration energy storage solutions. The longer a battery can store energy – the more value it provides to users.
That’s why Lockheed Martin Energy is pioneering the GridStar™ Flow system, a flow battery solution that uses a new, proprietary technology to address long duration energy storage needs.
“Our flow battery is designed to provide safe, durable, low-cost megawatt-scale storage for large industrial and utility-scale projects,” Brody said. “We see our technology as a true game changer and are confident customers will agree.”