Excerpt from pv-magazine-usa.com
The Long-Duration Energy Storage (LDES) was launched at the COP26 summit. The council said it plans to guide governments and grid operators on how LDES technologies will support decarbonization of the grid as the lowest-cost option to society.
Between 85 and 140 terawatt-hours of LDES deployment will be required to achieve a net-zero grid by 2040, according to the council’s upcoming November 23rd report. The council also estimates a need of 1 TWh of LDES deployment by 2025 to pace for decarbonization by 2040, as well.
The LDES Council comprises 24 tech companies, users, and investors. Long-duration iron flow battery maker ESS Tech, Inc. CEO Eric Dressselhuys entered the council as a founding member.
These deployment projections would entail a $1.5 to $3 trillion investment. The council said renewable energy stored in these technologies could eliminate 1.5 to 2.3 Gigatons of carbon dioxide emissions, or about 10-15% of global power emissions.