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What Is Driving Demand For Long Duration Energy Storage?
Integrating high percentages of renewable energy to a transmission grid has significant benefits in terms of reducing greenhouse gas emissions and helping to stabilize and lower energy costs, but it requires adapting the system to accommodate the characteristics of variable generation resources that may be located far from load. Long duration energy storage is uniquely suited to support this transition.
Comparing the Costs of Long Duration Energy Storage Technologies
This report highlights several factors that can affect the true cost of different long duration energy storage technologies. In addition to the upfront costs to build a new project, the required operating costs and expected lifespan of each storage technology must also be considered. While the falling upfront costs of Li-ion battery storage systems have attracted a lot of attention and increased the competitiveness of small to midsized battery projects, a more holistic view of total project costs shows that pumped hydro storage delivers much better economics for ratepayers.
Betting on Batteries?
As the use of Li-ion batteries for renewable energy storage increases, it is important to recognize that while they are a suitable technology for certain applications, there are a wide range of concerns surrounding their manufacture, use, and disposal. Utility planners, regulators, and policymakers who seek to objectively evaluate the benefits and risks of Li-ion battery energy storage should take these concerns into account and give full consideration to alternative long duration energy storage technology options.