NORTH CAROLINA - OPEN FOR BUSINESS
North Carolina is one of the top manufacturing states in the nation thanks to its robust workforce, a large accumulation of research institutions, and a business friendly climate. As a state founded on tobacco, furniture, and textiles, North Carolina’s manufacturing sector now thrives thanks in part to the state’s diverse energy economy. One of the state’s leaders in manufacturing, Alevo, is a global competitor in energy storage, with a mission of “solving one of the world’s greatest energy challenges: the ability to time-shift energy, storing and delivering electricity when and where it is needed.” The company plans to do this with their GridBank lithium-ion battery storage system and their advanced analytics and grid optimization services.
Energy storage systems can provide vital support to the aging electricity grid, by not only storing energy for later use, but also ensuring energy and infrastructure resiliency, while keeping costs low for utilities and customers. On a utility-scale, energy storage has the capability to increase renewable integration with the grid, keep critical equipment online during power disruptions, and balance electricity supply and demand. Lithium-ion battery storage, in particular, is increasingly becoming the technology of choice because of its declining costs (about 20-30% per year), their improved performance, and their widespread use in different applications. The continued growth of battery storage has led Alevo to invest $251 million in their facility and create 200 new jobs in the next five years.