Written By Madeline Acri, National Energy Storage Specialist at Soligent
At times, riding the solar coaster can become routine and things can feel like they are rolling smoothly with business as usual. Then a sharp curve appears out of nowhere and suddenly the industry feels like it has been turned upside down. Hurricane Ida took out transmission lines throughout New Orleans and still today there are tens of thousands of Energy customers without power.
Despite the fact that two gas plants were recently commissioned in the New Orleans area that were touted as new generation that can keep the lights on, this did not prove to be the case. In 2021, Louisiana ranked 41st out of 51 states and territories of the US in terms of most solar installed. However, the tides may turn into the next year for the Pelican State as homeowners want to become more energy independent and rely on utility providers less.
This feels like an appropriate time for the Biden Administration’s Energy Department to release a statement supporting 45% of the nation’s electricity coming from solar energy by 2050. This would mean installing 30 GW of solar annually through 2025 and 60 GW of solar annually from 2025 – 2030. In comparison, the US installed 19.2 GW of solar capacity in 2020. To continue the solar momentum, two notable storage acquisitions happened in the last few weeks; Briggs and Stratton, a generator manufacturer headquartered in Wisconsin, acquired Simpliphi Power, a Lithium Ferro Phosphate battery manufacturer from Oxnard, CA.
This acquisition will help Simpliphi meet the demand of a U.S. storage market that is poised to grow to $8.5 billion a year by 2026 according to a Wood Mackenzie forecast. In other news, LG Energy Solution acquired NEC Energy Solutions. This merger activity feels like the industry is gearing up for full steam ahead as solar and storage continue to lead clean energy production.