Energy storage investments - bridging production and consumption

Summary

Spearmint Energy founder Andrew Waranch says we are at a tipping point. Texas power grid froze in 2021 after a surge of severe winter storms battered state. He says we need massive investment in our energy infrastructure. Waranch: We do not all want to be left stranded, as Texas was in the winter of 2021. Batteries will be required to smooth out the energy flow and ensure a safe and robust grid. We believe there is a newly emerging opportunity today for a few reasons. Before to 2019, the price of lithium-based storage was too high to be economical

Banks were hesitant to support construction without utility offtake, and the traditional RFP process was slow, politically charged, and costly for those that do not receive an award. The US energy grid today is very far from fully renewable, and we believe battery energy storage is financially viable in several regions of the US. And we believe batteries are financially viable.