Georgina Harell and Tugrul U. Daim
In order to compliment the growing use of renewable energies in the US, additional technologies must be employed on the bulk power system. This paper aims to forecast the most…
Abstract
Purpose
In order to compliment the growing use of renewable energies in the US, additional technologies must be employed on the bulk power system. This paper aims to forecast the most probable energy storage technologies.
Design/methodology/approach
The methodology was deployed in two steps: evaluate the potential energy storage technologies that could complement a wind turbine or photovoltaic system; and forecast which of these technologies is best poised to become a viable solution to the energy storage problem facing these renewable technologies.
Findings
Based on the publication and patent data, compressed air energy is set to be the fastest growing complimentary technology to wind energy. Two of these types of plants are currently in existence today as mentioned previously indicating the technology is commercially available. This technology has great potential; however, implementing this technology involves finding or creating underground airtight caverns in usable locations.
Research limitations/implications
The number of variables have been limited due to the methodologies chosen for this analysis. The research can be expanded using other criteria such as cost, cost of capital, economies of scale, environmental concerns, social and political constraints.
Originality/value
This paper provides an assessment that was indicated as necessary by those who identified the need for the development of energy storage technologies for future electricity generation.
Details
Keywords
Tugrul Daim, Georgina Harell and Liliya Hogaboam
This paper aims to present a forecast for renewable energy production in the USA. Growth curves are used to conduct the forecasts.
Abstract
Purpose
This paper aims to present a forecast for renewable energy production in the USA. Growth curves are used to conduct the forecasts.
Design/methodology/approach
The analysis is based upon a literature review, supplemented by collection of secondary data. The study then focuses on applying the Pearl growth curve.
Findings
The authors' results show that biomass energy production is growing the fastest followed by geothermal and wind. Additionally, the forecast for solar energy production shows little to no growth over the next two decades.
Research limitations/implications
If the US government hopes to achieve its goals in renewable energy, considerable funding and incentives will have to be put forth to accelerate the growth of renewable energy. Since the biomass technology is already growing nicely it makes sense to put the additional resources behind the other three technologies to close the 10.3 percent gap being forecasted. The government also needs to put more funding into dual renewable plants such as wind or solar combines with pumped hydro, this will ensure environmental and reliability are both maintained. Finally, for renewable energies to be competitive in the long term, considerable research needs to go into driving down the cost so there is not a need for subsidies.
Originality/value
This study provides value in providing a forecast for expected future growth for renewable energy sources.