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Energy Storage Solutions
Why energy storage?
Energy storage installations around the world will multiply exponentially, according to the latest forecast from BloombergNEF. The boom of stationary energy storage, driven by cheaper batteries over the next two decades and increasing applications, will require $662 billion of investment.
That’s where we can help, no matter what stage your product is at, whether you’re refining your design or prototyping. Our expert advice, extensive range, consistent quality and custom solutions can make all the difference.
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What are the benefits of energy storage?
Forecasts show energy generated from renewable sources accelerating; they make up one quarter of today’s energy source, but is expected to grow to one half by 2035 and three quarters by 2050. The major problem when relying on solar panels or wind turbines is "dunkelflaute" which is a German word meaning “dark doldrums”. Battery energy storage systems are essential to capture renewable energy to supply when conditions are neither windy nor sunny.
Renewable energy storage will be required to support the forecasted doubling of electricity demand by 2050 driven by:
- Uptake of electric vehicles
- Higher living standards creates increased use of household appliances
- Global warming driving demand for cooling
- Electrification of industry
- Coal & Oil decline rapidly
- Lower cost & emissions compared to fossil fuels
Existing power grids are unable to move this energy around efficiently. Power transmission networks were developed nearly a century ago to transfer electricity from large coal-fired plants over long distances across the country. However, the map of electricity generation has changed dramatically over the past decade. For example, renewable energy sources now account for nearly a third of all the electricity generated in the UK. Large batteries and grid-scale energy storage systems are being used to enable this shift in the energy mix.
And microgeneration – where energy is generated by homes or businesses and distributed locally – accounts for 17% of electricity generation. Environmentally concious businesses and consumers are investing in domestic renewable energy battery storage to work in conjunction with their solar panels and electric vehicles.
Therefore battery energy storage systems including wind and solar energy storage, industrial battery systems and large grid energy storage are being more frequently seen throughout the electricity supply chain to reduce the carbon footprint and emissions from fossil fuel power plants and allow the world to harness the power of decentralised electricity generation.