Global lithium ion battery market was worth $17.4 billion in 2017, and is expected to reach around $95 billion by 2025

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.

Read our Energy World articles on how energy storage fits into strategies for carbon reduction.

Learn more about storage by reading our Energy Insights.

Learn about recent public funding for research and development of energy storage on our policy milestone website.

What's new?

Predicting well-stimulation results in a gas-storage field in the absence of reservoir data with neural networks. S. Mohaghegh et al. SPE Reservoir Engng., November 1996, 11(4), 268--272.

Methodology is presented that is capable of forecasting the post fracture deliverability on the basis of historical data in Clinton sandstone gas-storage field without detailed reservoir data. Post fracture well deliverability was predicted with approximately 95% accuracy. The neural network develop...

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Electricity Storage Network Consultation Document 2014

This report demonstrates the need for electricity storage in the UK and how it can form a valuable part of our national electrical infrastructure. The intention is to select a specific recommendation, from the four proposals outlined in this document, that could be given to DECC, DETI and regulatory...

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Events and training

Oil & Gas Fundamentals - Awareness - Nigeria - March 2020

9-02-2020
This 2-day awareness training course provides delegates with an overview of principal activities in the international upstream, midstream and downstream petroleum industry.

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Orbital Marine Power – delivering low cost tidal energy

11-02-2020
<p>The presentation will explain the conceptual benefits of the Orbital Marine floating tidal technology across construction, installation and operational phases of a tidal energy project.</p>

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The Hydrogen Economy Once it had a past, but what is its outlook?

18-02-2020
Join the EI East Midlands branch for a talk on the hydrogen economy.

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Aviation Jet Fuel - Middle East - March 2020

30-03-2020
This 2-day training course will provide delegates with an overview of aviation jet fuel, focusing on the jet engine, its underlying principles and fuel requirements as well as the critical characteristics of jet fuel, including additives, Industry best practice adopted in the supply, handling and us...

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Technical guidance publications

Guidelines for the management of safety critical elements

2020
The purpose of this technical publication is to provide industry guidance for the management of safety critical elements (SCEs) throughout the life cycle of a facility from conceptual design, through the operate phase, to changes such as life extension and decommissioning. An SCE is any part of a fa...

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IP 618: Determination of cold filter blocking tendency

2020
This standard specifies a method for the determination of the cold filter blocking tendency (CFBT) and cold filterability of middle distillate fuel oils containing biodiesel from 0 % to 20 %, at temperatures between ambient and -5 °C where the end use demands an exceptional degree of cleanliness...

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Battery storage guidance note 1: Battery storage planning

2019
This publication is free to download. Please log in to see the download option.Battery storage is expected to play an important role in the energy transition, allowing the storage of electrical energy from renewables for later use, and helping to balance grid load. This publication provides guidance...

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EI/JIG Standard 1530 Quality assurance requirements for the manufacture, storage and distribution of aviation fuel to airports (A4)

2019
Jointly published by the EI and JIG (Joint Inspection Group).EI/JIG 1530 provides a Standard to assist all parties in the maintenance of aviation fuel quality, from its point of manufacture through to delivery to airports. The Standard includes industry-accepted mandatory provisions and good practic...

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EI/JIG Standard 1530 Quality assurance requirements for the manufacture, storage and distribution of aviation fuel to airports (A5)

2019
Jointly published by the EI and JIG (Joint Inspection Group).EI/JIG 1530 provides a Standard to assist all parties in the maintenance of aviation fuel quality, from its point of manufacture through to delivery to airports. The Standard includes industry-accepted mandatory provisions and good practic...

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