325MW/650MWh! Plus Power plans to deploy two large-scale energy storage projects in New England

　　Energy storage deployment in the New England region has reached an important milestone: San Francisco-based energy storage developer Plus Power is building two of the largest battery energy storage projects in the region-one with a 150MW deployment in Massachusetts in the south of Boston /300MWh Carver’s lithium-ion battery energy storage project, named Cranberry Point Energy Storage; and a 175MW/350MWh lithium-ion battery energy storage project deployed in Gorham, Maine.

　　The scale of these two battery energy storage systems is impressive, but what is interesting about this announcement is the contract signed by Plus Power: Plus Power won the bid in the ISO New England forward capacity auction, which means The company is now delivering a seven-year capacity contract starting in June 2024.

　　The forward capacity auction is a mechanism by which the Independent System Operator (ISO) ensures that there will be enough power to meet the peak power demand caused by extreme temperatures in summer and winter. Traditionally, small-scale fossil fuel power generation facilities (mainly natural gas power plants) that respond quickly have been the main suppliers for this demand. But newer and cleaner energy technologies, such as battery energy storage systems, are replacing natural gas power plants.

　　The response speed of battery energy storage systems is even faster than that of natural gas power plants, and can more accurately track signals from ISO; in some areas of the United States, battery energy storage systems can be more accurate than natural gas power plants. Provide peak power cheaply because they can be charged when the electricity price is lowest.

　　Plus Power won the bidding contract in a highly competitive auction, which means that battery energy storage systems can now compete with existing fossil fuel power generation facilities in New England in terms of cost without subsidies. A recent evaluation of battery energy storage systems also found that during peak power demand periods, battery energy storage systems are a more cost-effective way to meet regional energy needs. This is a good news.

　　When using renewable energy for electric charging, the battery energy storage system is zero-emission, and natural gas power plants still have a relatively high environmental pollution impact. As Massachusetts’s "Global Warming Solutions Act" regulates the construction and operation of natural gas power plants, battery energy storage systems are expected to occupy a large part of the electricity supply market.

　　The battery energy storage system deployed by Plus Power will also meet Massachusetts' Clean Peak Standard (CPS). The Clean Peak Standard (CPS) is the first such plan in the United States to increase clean and renewable energy generation. It will also help Massachusetts achieve its goal of deploying an energy storage system with an installed capacity of 1GW by 2025.

　　In addition to providing the required peak capacity, the Cranberry Point battery energy storage project will also alleviate the congestion of the transmission network in southeastern Massachusetts, which is caused by new solar power projects and offshore wind energy projects.

　　All of this bodes well for the New England region-but it needs to be clear that the region has only just begun this much-needed market transformation. Obviously, energy storage deployment in the New England region has a lot of room for development.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect substitute for lead-acid batteries, and are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.