A year in review: for IHI Terrasun, 2022 is the dawn of incredible growth for the company and the industry at large
There is no question that this year was a tipping point for the growth of energy storage worldwide. We’re looking at an incredibly strong demand for energy storage aided by the new Inflation Reduction Act (IRA) and the war in Ukraine has made clear the need for dispatchable clean energy, not just in Europe, but worldwide. While supply chain shortages and disruptions are still here and likely to stay with us into 2023, they appear to have an end in sight.
Through all the twists and turns, Terrasun has continued our commitment to engineering excellence. Since the start of 2022, we’ve doubled our staff investing heavily in engineering, software development, and field service operations. With that increase, we’re able to serve our customers faster and better with a larger software team to implement more advanced functions, with a larger Design and Engineering department to support project development and a Field Service team with more capacity for commissioning and project life cycle services. While our team has grown, we remain committed to our strong communication and precise workmanship that has always set us apart.
2022 has also been a year of strategic growth for us. Years ago, when most storage integrators were beginning to develop their in-house battery storage assembly lines, we chose a different path. We made a bet that renewable energy developers would want choice and selection in their battery and inverter supply, so we invested heavily in our Design and Engineering capabilities as well as the direct battery procurement business model, which has started to gain adoption in 2022 and will continue throughout the next decade. We have developed high-quality contracting and technical framework to allow our customers to succeed in the battery procurement process, which can be daunting and complex. Second, we purposefully shifted our focus from Distributed Generation (DG) to large scale projects, investing in software development for the utility-scale market, including ERCOT with its 250ms response rate requirements. That shift has paid off with the seamless launch of the Byrd Ranch project in Texas.
In 2022, we deepened our commitment to multi-year battery energy services and maintenance. We have now doubled our Services team of Terrasun field engineers who work together with our monitoring and diagnostics staff to keep the systems in the best operational shape. In addition, with the release of our new software, we have enhanced our monitoring and diagnostic capabilities for commissioning and systems in operation. We have also launched a new collaboration with our sister company IHI Power Services Corp (IPSC), who has a team of 600 professionals managing energy projects all over the US, and a monitoring and operations center at their headquarters in California.
2023 outlook for energy storage markets
We are thrilled that in 2023, with the design, development, and deployment of new large-scale projects, our team will continue to demonstrate their expertise as we further develop our extended technology services model. We will look forward to collaborative work with developer partners, utilities, and suppliers to fully maximize the benefits of IRA-based incentives.
We will deliver on our current commitments, managing a large operational portfolio and expanding our expertise in services, while taking on bigger, more challenging projects.
We will expand our work to global markets, leveraging opportunities in sun-rich states and countries where incentives for energy storage have set up a strong marketplace, under the aegis of our parent company, IHI Corporation, which operates worldwide.
Next year, we will supercharge our contribution and commitment to the global movement to create a sustainable and resilient electricity grid which powers a green planet.
Journey with us!