Sustainable energy technology is driving innovation in a number of industries, and solar and storage are leading the way.
"Energy Storage and Solar PV for Heathcare Facilities," published by Guidehouse Insights in the first quarter of 2021, finds that external factors are changing the shape of healthcare. The extreme demands placed on hospitals by the COVID-19 pandemic have compelled many patients to choose at-home healthcare over checking into a hospital. At the same time, wildfires, heat waves and cold winter storms have increased the risk of blackouts for hospitals and other healthcare facilities.
Solar plus storage offers an innovative solution for these issues. The ability to store distributed energy allows healthcare facilities and residential healthcare patients to boost resiliency by providing backup power to avoid disruptions.
Additionally, declining costs are making battery storage technology more accessible to businesses and residential customers. The lowering cost of the technology makes it possible for owners to capture additional savings by avoiding time-of-use and demand charges.
Guidehouse notes that the trend faces some hurdles, including spacing requirements and upfront costs. However, outside funding, increased awareness and industry-specific data could help overcome those challenges.
The report projects significant growth in the healthcare market for solar plus storage in the years ahead. Guidehouse expects the market to experience a compound annual growth rate of 27.3% globally over the next decade, reaching a total of 1.8 gigawatts of energy by 2030. North American capacity is expected to increase from about 100 to 700 megawatts during the same time.