Currents
Ep233: Plus Power on Stand-Alone Energy Storage
Nov 30, 2023
Brandon Keefe and Joshua Goldstein of Plus Power discuss why they pursued stand-alone battery storage, the future of energy storage projects, investor response, constructing projects and diversified revenue streams, managing pricing and interest rate challenges, the impact of the cost of capital on battery storage growth, and the current state and future predictions of the energy storage industry.
28:46
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Quick takeaways
- PlusPower focuses on a location-based strategy for energy storage to maximize the grid's benefits.
- PlusPower tailors revenue streams and takes advantage of incentives to attract financing for their energy storage projects.
Deep dives
Standalone storage strategy and value creation
PlusPower, a leading developer of standalone battery storage projects in the US, focuses on a location-based strategy for energy storage. They identify the best locations on the grid where energy storage can create the most value for ratepayers and consumers. By strategically placing energy storage assets in these locations, they are able to maximize the grid's benefits. For example, they have two projects contracted with SRP in the Phoenix area, which will provide significant energy storage capacity. PlusPower adopts this strategy across the country and currently has multiple projects in construction or operation in several states.
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