The worldwide storage market is expanding at a breakneck speed. As per the latest projections from BloombergNEF (BNEF), the world energy storage installation will total 358 GW/1,028 GWh by the close of 2030, more than doubling the 17 GW/34 GWh installed at the close of 2020. Taiwan has devised an energy policy that aims for increasing renewable energy and LNG, much less coal, and a “nuclear-free homeland” as part of its goal to attain 20% of the nation’s energy from the renewable sources by the year 2025, up from around 5 percent in 2020. To flawlessly match power market forces, energy storage is required to effectively incorporate wind and solar power into the grid. Since the island’s traditionally centrally controlled grid system has confronted greater challenges from intermittent renewable attempts to connect to the grid, Taipower has decided to make frequency control a key priority. Taipower recognizes the value of battery storage in offering ancillary solutions to the grid and plans to increase its storage capacity to about 590 MWh by the year 2025.
“Taiwan is Fluence’s 30th market, and it demonstrates the company’s commitment to using its latest system technology to help make Taiwan’s power network stronger and much more resilient, make preparations for it to cater more renewable energy adoption, and set the example for future clean energy deployments in the Asia Pacific region,” stated Achal Sondhi, who works as the Vice President in charge of the market growth for the region of Asia Pacific at Fluence.
“The advancement of renewable energy as well as energy storage is an essential step toward achieving Taiwan’s energy transition. This isn’t just a business opportunity or a market trend; it’s also an industry consensus. Ina Energy is dedicated to the advancement of new energy sources like solar energy. We are excited to work with Fluence, the world’s leading energy storage company. At the same time, we’re proud to be able to contribute to Taiwan’s power supply stability and energy transition by participating in the Taipower’s automatic frequency control services,” said Cai Jiajin, who works as the Chairman of Ina Energy.