Energy storage is set to launch, accompanying the boom in the #renewable energy and #electric vehicle markets. As renewable energy forms such as the wind and the sun come and go, storing energy is the critical gap that needs to be filled, to ensure the availability of these energy alternatives.
#Lithium-ion batteries are the strongest contenders for mass scale energy storage with a diverse range of applications. Redox flow batteries are the next-generation technology with no combustion risk and flexible battery capacity. The combination of these two technologies will result in longer lifetime cycles; greater energy density and shorter recharge times. Relieving networks from inefficient investments required to support the few days of peak demand each year.
These solutions will benefit the entire energy value chain. Energy providers will stabilise the imbalance in seasonal energy demand and end-users will shift their own supply/demand curve to avoid peak bill rates. End users will be able to be more #energy-savvy, storing their own energy and even becoming an energy provider when possible.
Energy storage remains predominantly a residential and commercial solar photovoltaic domain, but government policies and regulations set to mature will facilitate economical, mass scale storage in the coming years.
We are currently helping our clients identify and realise energy optimisation opportunities - reducing the costs associated with peak time energy use and benefiting from a more reliable power supply.