Why Renewables
and Storage?
Aggressive and Opportunistic Growth
The share of renewable energy in the power sector is expected to reach 85% by 2050 with 8 states mandating over 7 GW of battery storage and the expectation that more will require batteries as part of their Renewable Portfolio Standard (RPS). Independent System Operator (ISO) queues are currently overloaded and storage has the optionality to streamline development hurdles in effort to fast-track project completion.
Community Responsibility
Peregrine is committed to working with and supporting communities across the United States by encouraging social advancement, promoting community growth, and educating the community of the benefits of renewables and battery storage.
Market Incentives
As states increase their Renewable Portfolio Standards (RPS’s) and make more aggressive targets for renewable development, opportunities for storage will grow in unison. Already, we see products offering both co-located solar and stand alone systems, with financial incentives for development in areas with high renewable targets.
clean, rapid dispatch resources
There are over 110 GWs of coal generation expected to retire by 2035. That firm, reliable resource will need to be replaced by an alternative clean, reliable resource with rapid response and stable available capacity. This opens a material market for storage to replace an aging fossil fleet and opportunities to fill in dispatch gaps.
Partnering With Other Renewable Generation
By developing a diversified portfolio of renewable assets, we’re able to effectively and efficiently hedge the market exposure of the projects we operate. Coupled with solar or wind, storage can dispatch when the intermittent renewable resource generation is unable to meet its obligations, providing positive cash flows to what would otherwise be a cash-flow-negative scenario.
battery costs continue to decline
Expected 4-8% year-over-year reductions in system costs will enable greater amounts of energy storage to be installed in the U.S. Future battery technology changes will further reduce costs by increasing inherent battery safety and energy density, both of which have a positive impact on energy storage systems costs.