Energy storage reaches a historical turning point

What is the future of energy storage?

Important applications continue to emerge including decarbonization of heavy-duty vehicles, rail, maritime shipping, and aviation and the growth of renewable electricity and storage on the grid. This perspective compares energy storage needs and priorities in 2010 with those now and those emerging over the next few decades.

How did energy storage grow in 2022 & 2023?

The US utility-scale storage sector saw tremendous growth over 2022 and 2023. In 2022, the volume of energy storage installations totaled 11,976 megawatt hours (MWh), which was surpassed in the first three quarters of 2023, reaching 13,518 MWh by cumulative volume.

When did energy storage installations in the US surpass 11,976 MWh?

The volume of energy storage installations in the United States in 2022 totaled 11,976 megawatt hours (MWh)—a figure surpassed in the first three quarters of 2023 when installations hit 13,518 MWh by cumulative volume.

Why is energy storage important in a power system?

Energy storage is a potential substitute for, or complement to, almost every aspect of a power system. It can improve generation, transmission, and demand flexibility. Storage should be co-optimized with clean generation, transmission systems, and strategies to reward consumers for making their electricity use more flexible.

Should energy storage be co-optimized?

Storage should be co-optimized with clean generation, transmission systems, and strategies to reward consumers for making their electricity use more flexible. Goals that aim for zero emissions are more complex and expensive than net-zero goals that use negative emissions technologies to achieve a reduction of 100%.

Is a lack of long duration energy storage a problem?

Eddie Rich, CEO, the International Hydropower Association, and Vice-Chair of GRA commented: “A lack of long duration energy storage has, until now, been the ignored crisis within the current energy crisis. This is the first time world leaders have recognised the need for a mix of renewables, rather than just volume.