Power Technology Report

Energy Storage - Thematic Research

In the electricity distribution sector, energy storage has increasingly been considered a crucial advancement in the recent years.

Energy storage systems (ESS) are used widely for storing energy intended for use later. ESS technologies can help manage power during peak load periods, enabling energy management, providing bridging power and enhancing the quality and reliability of power. It also facilitates the integration of distributed renewable energy sources into the grid, which can be utilized to meet the demand.

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  • What you need to know...
  • The major ESS technologies include pumped hydroelectric storage (PHS), compressed air energy storage (CAES), flywheels, batteries, and capacitors.
  • According to the International Renewable Energy Agency’s (IRENA) Renewable Energy Roadmap 2030, 475 gigawatts (GW) of ESS would be required to meet the target of 45% power from renewable sources in the energy mix by 2030.
  • In the recent years, lithium-ion batteries have gained prominence due to their higher efficiency when compared to other battery technologies.

The potential applications of energy storage technologies have caught the eye of a number of stakeholders involved in the power industry, leading to its considerable growth and paving way for next energy revolution. GlobalData’s Energy Storage – Thematic Research report explores this further.

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