REA examines longer-duration battery storage
A new report published by the Association for Renewable Energy and Clean Technology (REA) says that a new market mechanism for longer-duration battery storage should be created.
The report examined energy storage technology that can hold energy for up to 24 hours, such as flow batteries, gravity batteries, pumped hydropower, liquid air energy storage and compressed air energy storage.
Current commercial energy storage technology can hold power for up to four hours in most cases.
The report said that the time-consuming nature of such battery projects are prohibitive to further development. The REA says that action should be “taken now” to enable the first batch of long-duration energy storage systems to be commissioned by 2030.
The REA is calling for the government – supported by regulatory body Ofgem – to establish a “future-proof income stabilisation mechanism to de-risk investment into longer-duration energy storage, building on existing market arrangements.”
This would allow the technology to compete with smaller-scale technologies that require far less capital expenditure.