Introduction to the in-depth report on energy storage industry

What is energy storage technology?

The development of thermal, mechanical, and chemical energy storage technologies addresses challenges created by significant penetration of variable renewable energy sources into the electricity mix.

What are nergy storage technologies?

nergy storage technologies are focused on shorter storage durations. This is particularly pertinent to developing countries that might see an increasingly decentralised grid with distributed variable renewable energy generation sources coupled with higher energy and lower power i.e. longer term storage systems to complement the variable genera

What technology risks do energy storage systems face?

Technology risks: While lithium-ion batteries remain the most widespread technology used in energy storage systems, these systems also use hydrogen, compressed air, and other battery technologies. The storage industry is also exploring new technologies capable of providing longer-duration storage to meet different market needs.

When was energy storage first used?

The earliest grid-scale energy storage technology is pumped hydroelectric storage, introduced to the grid in the 1930s. Significant capacity growth has continued since, and pumped hydro is still the dominant technology in energy storage on a capacity basis.

Why do we need energy storage systems?

Energy storage systems help to bridge the gap between power generation and demand and are useful for systems with high variability or generation-demand mismatch.

What is a long-duration energy storage system?

The vast majority of long-duration grid-scale energy storage systems are based on mechanical systems such as pumped hydro or compressed air energy storage. Improvements to these systems and developments of other systems for cost-effective long-duration energy storage are needed.