A record high 5 GW of battery storage capacity was added worldwide in 2020, bringing the total capacity to around 17 GW
Energy storage allows for flexibility in the timing of when energy is supplied and when it is used. Energy storage comes in a number of forms, including chemical, kinetic, thermal, gravitational potential, electromagnetic, electrochemical and osmotic potential. The choice of storage solution depends on location as well as reserve service required, since different technologies can provide different capacities and durations of storage. Storage of solid, liquid and gaseous fuels has been commonplace for centuries; as the low carbon transition requires integration of increasing intermittent renewable sources into the system, energy storage is becoming integral for reducing dependency on fossil fuels and achieving a flexible, resilient energy network. Strategic placement of storage also gives the potential to avoid otherwise necessary network upgrades and curtailment of expensive assets. Greater connectivity between different energy networks, i.e. interconnection across national grids, can allow for security of supply without needing additional generation capacity.
Energy storage has applications varying from small-scale local systems in homes or commercial buildings – which are becoming increasingly common alongside the rise of distributed generation – to utility-scale storage systems. Common examples of energy storage include batteries (mainly lithium-ion) which store electricity as chemical energy, pumped hydroelectric storage systems which store gravitational potential energy in elevated reservoirs, and ice storage tanks which store thermal energy by freezing water with cheaper energy at night to meet peak cooling demand in daytime. Surplus renewable electricity can also be used to produce energy carriers like hydrogen, enabling the storage of renewable energy for long periods. Electric vehicles can also function as storage systems, since electricity can be transferred both to and from the batteries of plugged-in vehicles when needed. With energy storage expected to play a greater role towards a low-carbon and sustainable energy future, various storage technologies must be evaluated to balance the trade-offs between life-cycle cost, efficiency, material sustainability and safety.
Learn more about storage by reading our Energy Insights.
Read our New Energy World articles on how energy storage fits into strategies for carbon reduction.
Learn about recent public funding for research and development of energy storage on our policy milestone calendar.
0.0%
increase seen in overall investment in battery storage in 2020 (IEA)
0%
fall in the price (volume-weighted average) of a lithium-ion battery pack since 2010 saw prices reach an average of $137/kWh in 2020 (BloombergNEF)
0TWh
of global energy storage in forecast to be installed by 2030, compared to 34 GWh in 2020 (BloombergNEF)
0billion
will be saved by bill-payers by 2050 by moving to a zero carbon gas grid t (Energy Networks Association)
What's new?
Romania connects its largest battery storage system
17/04/2024
Installed at the 50 MW Mireasa Wind Park, in Constanța county, the storage unit has a capacity of 24 MWh (6 MW x 4 hours) and represents the first sta...
England could produce 13 times more clean energy than at present, according to eco-researchers
17/04/2024
Onshore renewable energy is fast to build in the UK, taking as little as one year if planning and grid constraints are resolved, claim the environment...
Largest green hydrogen plant in Central Europe inaugurated, while plant set to become North America’s largest passes FEED stage
17/04/2024
The new technology is predicted to gradually replace the natural gas-based production process at the Danube refinery, which currently accounts for one...
Australia to invest A$1bn in Solar Sunshot programme
10/04/2024
The Solar SunShot programme will aim to help Australia capture more of the global solar manufacturing supply chain through support, production subsidi...
Largest solar park in southern Chile inaugurated
27/03/2024
The solar plant, which is said to be the largest of its kind in south Chile, was officially opened earlier this month by Gabriel Boric, President of C...
Events and training
EI LIVE I Evaluating the energy balance and efficiency of a whole hydrogen energy system
29/05/2024
Webinar Title : Evaluating the energy balance and efficiency of a whole hydrogen energy system, from production to consumption."
Reservoir Microbiology Forum (RMF)
13/11/2024 - 14/11/2024
Now open for abstractsThe RMF is an excellent multi-disciplinary platform that brings together oil producers, scientists, technologists, engineers, ac...
Hazardous Area Classification - November 2024
19/11/2024 - 21/11/2024
This 3-day training course will provide delegates with training on the Energy Institute Model Safe Code of Practice 15, Area Classification for Instal...
Technical guidance publications
PELG Petrol filling stations - Guidance on managing the risks of fire and explosion (The Red Guide)
2024
Petrol filling stations: Guidance on managing the risks of fire and explosion (the Red Guide) has been jointly developed by industry, regulators ...
IP 467: Determination of the high temperature stability of middle distillate fuel
2024
This standard specifies a procedure for the assessment of the relative stability of middle distillate fuels under high temperature ageing conditions w...
Good plant design and operation for onshore and offshore carbon capture installations and pipelines
2024
This publication is an update to the Good plant design and operation for onshore carbon capture installations and onshore pipelines published in 2010....
Hazard analysis for onshore and offshore carbon capture installations and pipelines
2024
This publication is an update to the Technical guidance on hazard analysis for onshore carbon capture installations and onshore pipelines and EI Resea...
IP 387: Determination of filter blocking tendency
2024
This standard specifies a method for the determination of the filter blocking tendency (FBT) and filterability of middle distillate fuel oils and non-...