Black & Veatch and Dynapower Co. signed an agreement to create a strategic alliance to address the need for grid-scale energy storage systems. Through the alliance the companies will work together to address both transmission- and distribution-level energy storage projects, both in North America and internationally. The partnership will develop and deploy storage solutions of all sizes and technologies.
Dynapower's inverter technology will be combined with Black & Veatch's engineering and construction expertise, enabling clients to implement customized solutions that are engineered to support a range of storage technologies.
There is an estimated $10 billion energy storage market in North America by 2022, according to Black & Veatch. This growth is driven by several factors, including grid stability, state-level storage mandates, and an increased level of renewable energy sources.
Black & Veatch has experience supporting energy storage projects using battery, compressed air energy storage, flywheel and pumped storage hydro technologies.
The 2014 Strategic Directions: U.S. Electric Industry report from Black & Veatch shows that nearly two-thirds of industry respondents view energy storage as the most important technology for facilitating the integration of variable energy sources.