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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?

Asia leads global liquids storage capacity growth by 2023

22-03-2019
Asia is forecast to be the major contributor to the growth of the global liquids storage industry by 2023, accounting for around 33% of the global liquids storage terminals’ capacity from newbuild and expansion projects in 2023, according to GlobalData.Research by the data and analytics company reve...

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Battery storage system for world’s largest solar farm

20-03-2019
An energy storage system has been installed at the world’s largest solar park – Dubai’s Mohammed Bin Rashid Al Maktoum Solar Park. According to storage system supplier Ingeteam, the installation marks the first time an energy storage system has been paired with a photovoltaic plant at a grid-sc...

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New technology options broaden the scope for carbon capture and storage

1-03-2019
How is the global development of carbon capture and storage proceeding? That partly depends on who you ask, writes Mark Rowe. Yet several promising new technologies are emerging and there are signs that investors are beginning to trust the technology.

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Energy Insight: Carbon Capture and Storage (CCS) and Carbon Capture Usage and Storage (CCUS) in the UK

12-02-2019
Q.  The UK government has abandoned CCS projects in the past. Will the UK ever succeed in getting CCS in any form in the future?The UK Government is committed, by a law it passed itself over 20 years ago (the Climate Change Act 2008) to ensure that "the net UK carbon account for the year 2050 i...

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Varied CO2 injection rates could boost efficiency and security of geological storage sites

6-02-2019
Varying the rate at which carbon dioxide (CO2) is injected into geological storage sites can enhance not just their efficiency but also their ability to store the greenhouse gas securely, according to a new study, reports Scottish Carbon Capture & Storage (SCCS). These findings will be inva...

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Events and training

"Energy Optimisation and Storage" - The march towards smarter energy solutions

28-03-2019
The second EI Singapore networking event of the year will focus on what is perhaps one of the most important issues facing both energy producers and consumers today.

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Oil and Gas Industry Fundamentals 4-day training - June 2019

11-06-2019
This 4-day course is a leading course presented by an industry expert and practitioner. Delegates will cover the key sectors of the oil and gas industry from exploration through to fuel retailing. They will learn about the industry value chain covering conventional and unconventional resources, dril...

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NEBOSH International Technical Certificate in Oil and Gas Operational Safety

9-09-2019
This NEBOSH International Technical Certificate in Oil & Gas Operational Safety training will provide students with an industry recognised qualification for individuals with safety responsibilities in the oil and gas industry. The course is available as a 5-day classroom course, E-Learning and I...

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Aviation jet fuel

1-10-2019
This 3-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

Guidance for corrosion management in oil and gas production and processing

2019
*This publication has a large file size, please allow extra time for the PDF to download*This second edition of the EI's Guidance on corrosion management in oil and gas production and processing provides general principles and essential engineering guidance and requirements for improving corrosion m...

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Human and organisational factors in end of service life and decommissioning

2019
This document is freely available to all registered users of this site.Health, safety, wellbeing and performance of those working on sites, both on and offshore, undergoing decommissioning can be adversely affected by changes in the nature of the tasks performed and the conditions under which they a...

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Safety notice: Electrical/electronic devices energised by button cells in hazardous areas (potentially explosive atmospheres)

2019
This poster is free to download for all registered users.The Safety Notice/Training Poster is aimed at operators, managers, trainers and staff of petroleum industry facilities which contain hazardous areas and are unsure about the ignition risk that the use of button cell energised devices may pose....

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Manual handling and ergonomic guidance sheet no.5: Package, storage and movement of loads from containers

2018
This document is freely available to all registered users of this site. The EI has created a set of 12 good practice guidance sheets for typical manual handling and ergonomic tasks in offshore energy industries. This guidance sheet focuses on good practice for planning and managing the unloading and...

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Guidance on conceptual design, selection and life cycle assurance of products intended to improve integrity of bases of above-ground storage tanks holding petroleum, petroleum products or other fuels

2018
This publication is intended primarily for use by process safety specialists, designers, inspectors, regulators and operators and owners of facilities holding bulk stores of petroleum, petroleum products or other fuels in above-ground storage tanks (ASTs).The information provided in this public...

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