Battery storage

The energy storage market is expanding quite rapidly, driven largely by the increasing
availability of affordable energy from renewable sources.

Energy storage helps during emergencies like power outages from storms, equipment failure, accidents or even terrorist attacks. But the game-changing nature of energy storage is its ability to balance power supply and demand instantaneously – within milliseconds which makes power networks more resilient, efficient, and cleaner than ever before.

Energy storage is needed on a grid-scale for three main reasons. The first is to “balance load” – to shift energy generation into the future, often by several hours – so that more generation capacity is used efficiently. The second reason is to “bridge” power – in other words, to ensure there is no break in service during the second to minutes required to switch from one generation source to another. Finally, power quality management - the control of voltage and frequency to avoid damaging sensitive equipment – is an increasing concern that storage can alleviate whenever needed, for a few seconds or less, many times each day.

 

Another benefit is that energy storage systems are ‘fuel neutral’, regardless of the source. Energy storage captures excess electricity at high efficiencies for optimal use during outages, peak hours, or whenever grid management is a challenge.

 

Today’s electricity grid is increasingly vulnerable to threats from nature, terrorists, and accidents. Millions of families and businesses are victimised by outages each year. Power outages cost us $130 billion globally annually, hitting the job-creating commercial and industrial sectors hardest. Energy Storage can significantly reduce the vulnerability of the grid.

 

Energy Storage supports the integration of renewable energy generation. Energy storage can also help cut emissions by improving green energy efficiency and reducing the need for fossil fuel generation. Peaking generation is one of the most costly and wasteful aspects of the grid, so making the existing generation go further and avoiding capital and resource-intensive new facilities would make a significant contribution to our environmental priorities.

 

Energy Storage is going to be a vital part of the UK’s energy generation and distribution system, helping smooth out intermittency of renewable generation systems and ensuring consistent supply on the grid. The electricity sector is currently undergoing its biggest transformation for over half a century. The necessity to bring in renewable energy generation sources, coupled with the associated adjustments required to the distribution network (allowing these sources to contribute to the national grid) means energy storage is integral to these major changes.

 

The world will witness an international mega shift towards energy storage – batteries in particular – within the next 10 years according to ARENA (Australian Renewable Energy Agency). Further, according to Bloomberg New Energy Finance, energy annual investment in storage systems will increase six-fold to £6.7 billion in 2024, and to £197 billion by 2040.

 

Energy Storage is not new; it has been around for a very long time, in fact over 200 years, ever since Alessandro Volta invented the very first battery. The vast applications of Battery storage have not been lost either, from electric cars to battery storage for the national grid; battery storage has long been touted as the next big thing that never materialised. The reasons for this are simple – technology and cost. Whilst the theory of all of these applications was possible and proven, it was simply usurped by cheaper and more effective technology. That has now changed and not only can battery storage compete, it is now becoming much better.

 

The best example of this would be Tesla Electric Vehicle’s; just 15 years ago Electric Vehicles were effectively very expensive, glorified golf buggies. Today Tesla is producing electric cars that are cost competitive, can travel over 300 miles on a single charge, and in the case of the Tesla Model S P100D can do 0 – 60 mph in 2.5 seconds, that’s the same as the $1.7 million Bugatti Veyron. Battery storage on a home level and national level is also experiencing the same advancements.

 

Energy storage now looks as though it has reached the tipping point and will be one of the fastest growing sectors within renewable energy, which is the fastest growing industry in the world.

 

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Economic landscape of the renewables sector

MP calls for massive green private sector investment
Government policy needs to focus on enabling the private private-sector to invest heavily in the green industries of the future such as clean technologies for heating homes and institutions, for the expansion of electric vehicles, expanding renewable energy’s role in transmission and building battery storage capacity to balance the distribution of energy in the aftermath of the corona virus crisis.
Local Authorities lead the way in second-life storage
Local authorities across the country are leading the way in making progress towards the government’s Net Zero target. The important, and potentially profitable, role in delivering green energy is being seized by forward thinking Country Councils in West Sussex and Suffolk in the South of England.
Electricity storage will be exempt from planning regime
The Department for Business, Energy and Industrial Strategy has stated it will bring forward secondary legislation to exempt all size storage facilities (except pumped hydro) from the national planning regime in England.
Net-Zero Skills Gap needs urgent action
Transforming the British economy to achieve Net Zero by 2050 will need the spending of billions of pounds in new investment on a green infrastructure.
The CCC says all that’s required is for the government to just go for it.
Today’s progress report – meant to assess the government’s annual progress against climate targets – is unlike any other that precedes it.
Demand for storage surging
The expected rate of return on battery storage facilities is rising sharply as demand is far outpacing supply. In the short-term the imbalances stemming from the fall off in the demand for electricity stemming from the COVID-19 induced downturn in economic activity is pushing up the utilisation of off grid batteries.
The Covid-19 pandemic
Envirotech Energy Solutions has put measures in place to help protect its team, investors, and clients during the ongoing Covid-19 pandemic. Even though our London offices are currently closed, it’s still very much business as usual!
Battery Storage now competitive with gas plants for peak loads
New data just published by BloombergNEF illustrates that the achievable levelised cost of electricity (LCOE) for battery energy storage means that “new-build batteries can be competitive on cost with gas peaker plants.”
Committee on Climate Change calls for a green recovery
The Committee on Climate Change, CCC, the statutory body set up in 2008 to provide independent advice to the nations of the United Kingdom on tackling climate change, has written a letter to the Prime Minister, Boris Johnson, cced to the Chancellor of the Exchequer, stressing that a green recovery must be a fundamental part of rebuilding the nation following the COVID-19 pandemic.
Britain needs to raise storage capacity tenfold by 2024
The International Monetary Fund (IMF) has produced a report 'Greening the Recovery' urging government fiscal policy makers to “green” their response to the current economic crisis caused by the corona virus pandemic.
Bank of England fails to exclude buying fossil fuel assets
The Bank of England is missing out on a crucial opportunity to nudge the British economy further in a green direction through its asset purchasing scheme for corporate bonds.
Pandemic impact underlines the need for more energy storage
The importance of the role which energy storage can play in providing energy security across the power delivery network, has been brought home as households and those business and institutions still operating in Britain are threatened by the risk of power blackouts as a result of the corona virus pandemic.
The Economics of Renewables
Renewable energy is not just the means by which humanity will deal with the existential threat of climate change.
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