Gore Street Energy Storage’s (LON:GSF) Alex O’Cinneide says the decline in lithium-ion batteries and growth in renewables bodes well for the continued growth for energy storage as an asset class.
”Our increasing use of renewable energy is exactly why we have a need for energy storage”, he says.
”What we’ve seen over the last few years is continued decommissioning of coal, gas and nuclear and the rise of renewables … all of those things require energy storage to function correctly”.
He adds that their own portfolio has grown exponentially – now standing at over 200 MW.
”All through this terrible crisis there was never a question that electricity was unstable … our storage assets are a small part of that .. but importantly they are a part of it”, he says.
”They’re providing a critical service and at no time did we lose service, so we’re very proud of that performance”.
Published at Wed, 12 Aug 2020 12:39:00 +0000-Gore Street Energy’s Alex O’Cinneide sees strong growth and returns for storage as an asset class