Excerpt from energy-storage.news
Long-duration energy storage has a crucial role to play in decarbonising the global energy system sufficiently to avoid catastrophic climate change as long as its value can be unlocked.
That’s the central thrust of a new 76-page report published today by the Long Duration Energy Storage Council (LDES Council), which aims to show the significant potential of the broad set of technologies that can store and discharge energy for eight hours or longer.
The CEO-led organisation was launched at COP26, including BP and Breakthrough Energy Ventures among its founder members, alongside 16 long-duration energy storage (LDES) technology providers, industry off-takers and end users, equipment manufacturers and energy system integrators and developers.
The report, ’Net-zero power: Long duration energy storage for a renewable grid’ asserts that by 2040, 10% of all electricity generated could be stored at some stage. The group said on the announcement of its formation that deployment of 85TWh to 140TWh of LDES by 2040 could be enough to keep the world on track to limit global warming to 1.5°C as outlined in the Paris Agreement.