Stem Well Positioned In On-Site Energy Storage Market
As the electric power grid continues to evolve and more distributed renewables come on line, the need for electricity storage will rapidly continue to grow. There are various types of energy storage, and each can contribute to the grid in numerous and different ways. These vary from fast-response grid stabilization applications (such as frequency regulation), to longer-term demand response (DR). Storage can be used to support localized grid requirements and to stabilize voltage. Located on a customer’s site, it can also help to minimize utility customer demand charges (these are typically based on the customer’s highest hourly reading during the meter read period).