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.