8minutenergy Expands Into Energy Storage Market With 1 Gigawatt Project Pipeline
SAN FRANCISCO–(BUSINESS WIRE)–8minutenergy Renewables, LLC (“8minutenergy”), the largest independent solar power developer in the U.S., announced it has expanded into the energy storage market with a 1 gigawatt (GW) project pipeline. The company is focused on standalone storage and hybrid (solar PV + storage) systems, driven by its storage leadership team that has several decades of experience building some of America’s largest energy storage, renewable energy, and transmission projects.
8minutenergy is pursuing opportunities in key solar markets, including California, where the company maintains more than 700 MW in operational generation assets, and a 12.5% utility market share. The company is also addressing growing markets such as Texas and the Southeast. Moving into energy storage aligns with industry forecasts, with GTM Research predicting that the nation’s annual energy storage capacity will surge to 655 MW in 2018, and will exceed 2 GW in 2021.
“Utilities and corporations nationwide are looking for reliable, cost-competitive clean energy solutions. Solar PV and energy storage are poised to meet this demand while delivering strong returns,” said 8minutenergy’s Vice President of Storage Solutions, Steve McKenery. “Not only can storage improve project economics, but it can also make renewable power dispatchable – that’s a clear win for the future of clean energy.”
8minutenergy is working with industry-leading manufacturers to offer energy storage solutions featuring lithium-ion and flow batteries, flywheels, and other storage mediums. In order to develop cutting-edge power plants, the company applies its technology-agnostic approach and proven utility-scale solar experience. 8minutenergy has also expanded its existing solar PV research and development facility by adding energy storage facilities to test plant performance innovations and grid balancing capabilities.
“Having worked closely with the largest utilities in America for the past few decades allows us to uniquely understand our customers’ needs and system requirements,” said 8minutenergy’s Vice President of Storage Integration, Carl Stills. “We are working on storage solutions that are already cost-competitive across the board, improve energy yield, and maximize renewable incentives. Now with fully dispatchable renewable energy, we can complement any existing utility portfolio.”
8minutenergy’s core energy storage team includes experts with over 100 years’ of combined experience in the utility, transmission, and storage sectors; as well as experience in storage development with customers such as Southern California Edison, Imperial Irrigation District, San Diego Gas & Electric, Consolidated Edison, Pacific Gas and Electric Company, and Hawaiian Electric Company. The team has initiated and/or managed several of America’s largest energy storage projects and advancements, including the first lithium-ion energy storage project over 30 MW in the western U.S., and the first utility-scale wind and storage project in Hawaii. Additionally, the team has numerous patents pending in battery storage solutions.
To learn more, contact the company at info@8minutenergy.com or visit www.8minutenergy.com/energy-storage.
About 8minutenergy Renewables, LLC
Founded in 2009, 8minutenergy Renewables is the nation’s largest independent developer of solar PV and storage projects. To date, 8minutenergy has nearly 5.5 GW under development in North America, operates over 700 MW in solar assets, and been awarded more than 1.5 GW in power purchase agreements. The company is developing some of the largest solar plants in the world, including the 800 MW Mount Signal farm in California. 8minutenergy has an unmatched ability to produce affordable clean energy, and to deliver strong financial returns on utility-scale solar and storage projects. For more information, please visit www.8minutenergy.com.
Source:BusinessWire
