Approximately 92% of the surveyed energy industry professionals latest Industry Insights research von DNV, a leading independent expert in risk management and assurance, agreed that accelerating solar-plus-storage over the next five years will be critical to advancing solar efficiency and resilience global energy grids.
“The combination of solar and storage energy also opens up a wide range of possibilities for providing society with 100% renewable energy in a reliable and cost-efficient manner. It’s important that we act quickly for the greater good, remove barriers to clean energy and plan for the long term to make progress,” said Ditlev Engel, CEO of Energy Systems at DNV.
Another research DNV predicts that global solar energy will grow twenty-fold by 2050 and solar systems will increasingly be integrated into dedicated storage solutions. Approximately 20% of all solar PV systems will have dedicated storage in the next ten years. By the middle of this century, this share is expected to rise to 50%.
The forecast also shows that solar-plus storage offers an advantage in the move-in price compared to standard solar PV systems, despite the current higher costs. By 2038, the profit price advantage of solar-plus storage over regular solar PV systems will exceed the cost disadvantage on a global average.
Respondents from the solar industry clearly see investments in storage as a priority. Around two-thirds of them currently have business interests that generate revenue in this sector, and 56% of them plan to increase their investments in the coming year.
When it comes to barriers to growth, 63% of respondents said there is a labor shortage in the industry. 62% said their organization is finding it increasingly difficult to recruit employees with the necessary skills for the energy transition.
Additionally, 47% believe that inadequacies, delays or surprises in public policy pose the greatest risk to their organization’s short-term success. Still, reforms to permitting and licensing processes are critical to achieving net-zero targets, said 87% of solar industry respondents.
According to a study by Industry Insights, digital tools that accelerate the implementation and management of solar-plus storage projects will help drive the adoption of this technology, despite the roadblocks ahead.