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?
Global grid infrastructure needs to more than double by 2050 to meet surging electricity demand
26/06/2024
DNV new power systems reportEconomic growth and the electrification of transportation, heating and industry are expected to result in a do...
Biofuels: first industrial-scale solar thermal plant inaugurated, while used cooking oil claims queried
26/06/2024
Called Dawn, Synhelion’s facility features a mirror field and 20-metre-high solar tower with solar receiver, thermochemical reactor and thermal energy...
New fossil project approvals must consider Scope 3 emissions, rules UK Supreme Court
26/06/2024
Sarah Finch, on behalf of the Weald Action Group, challenged Surrey County Council’s decision to grant permission for an oil well at Horse Hill, near ...
Don’t use record-low French price as new floating wind benchmark, warns WindEurope
26/06/2024
On 15 May France published the results of what was Europe’s first commercial scale floating offshore wind auction, with the winning bid awarded at €86...
New Energy Institute data highlights year of global records
20/06/2024
The report finds that global primary energy consumption rose 2% to 620 Exajoules (EJ). Emissions from energy increased by a comparable amount and exce...
Events and training
EI LIVE I Blue Book Revision
30/07/2024
EI LIVE I Technical + Innovation webinar Blue Book Revision The Blue Book provides information for those involved in the design, construction, mo...
Reservoir Microbiology Forum (RMF)
13/11/2024 - 14/11/2024
Abstract deadline: 8 July 2024For your chance to present to an international audience at this conference, simply fill in our online abstract form...
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 ...
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 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...
Research report: Understanding stakeholder needs and integration challenges across the hydrogen value-chain
2024
This report covers the range of stakeholders involved in the entire low-carbon hydrogen value chain, their relationships, needs, integration issues, a...
Research report: Global activities in hydrogen development
2024
This report covers various developmental activities across the hydrogen value chain, encompassing production, transportation/distribution, storage, an...