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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?

New projects pair multiple renewables with storage

1-05-2019
Large-scale battery storage is perhaps the most important enabling technology for the next phase of the energy transition – and utilities are taking note. Now, the first projects that pair two or more renewable technologies with storage are coming online, reports Andrew Williams.

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EI/JIG Standard 1530: Quality assurance requirements for the manufacture, storage and distribution of aviation fuels to airports

1-05-2019
In several places the new standard includes requirements for testing samples for the presence of microbiological growth. This can only be achieved by using particular test kits which have been confirmed as being suitable for this purpose – there are others in existence which are not suitable. So, in...

Read more »

EI/JIG Standard 1530: Quality assurance requirements for the manufacture, storage and distribution of aviation fuels to airports

1-05-2019
In several places the new standard includes requirements for testing samples for the presence of microbiological growth. This can only be achieved by using particular test kits which have been confirmed as being suitable for this purpose – there are others in existence which are not suitable. So, in...

Read more »

Italy to contribute 35% of Europe’s newbuild underground gas storage capacity in 2023

1-04-2019
Italy is expected to add around 249bn cf of underground gas storage capacity between 2019 and 2023, from 14 planned and announced underground gas storage sites, according to GlobalData.The company forecasts that Europe will add 49 planned and announced underground gas storage sites during the foreca...

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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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Events and training

YPN FutureTech: Power to the People

20-06-2019
Join the debate and discover how technology is shaping the energy transition.

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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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Introduction to Oil & Gas Industry- September 2019

24-09-2019
This 2-day course provides an introduction to the oil & gas industry. Delegates will learn about the key sectors of the oil and gas industry from exploration through to fuel retailing. The course comprehensively covers all aspects of the industry value chain including formation of oil & gas,...

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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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Hazardous Area Classification - October 2019

14-10-2019
This 3-day training course will provide delegates with training on the Energy Institute Model Safe Code of Practice 15, Area Classification for Installations Handing Flammable Fluids. This internationally recognised publication provides methodologies for carrying out Hazardous Area Classification st...

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Technical guidance publications

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

2019
Jointly published by by JIG (Joint Inspection Group) and the EI.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 prac...

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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 by JIG (Joint Inspection Group) and the EI.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 prac...

Read more »

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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Guidance on assigning ignition probabilities in onshore and offshore quantitative risk assessments

2019
The probability of ignition of flammable releases from onshore and offshore installations is a key factor in determining the risks such installations present to people, assets and the environment, yet data and practical models available to enable assessors to assign suitable ignition probability dis...

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