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The Evolving Energy Grid Demands High Energy Storage, and Power Output

The electricity grid is undergoing its first evolution since the invention of the power transmission system, and energy storage devices, particularly mechanical energy storage devices, will play a solid role in this evolution. Decarbonization, renewable energies, and energy storage devices are all factors involved in the current evolution of the

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BDC 317 : Jun 2024

IDTechEx

The Next Stage of the Electricity Grid Investigated by IDTechEx Research

The electricity market is evolving to allow a higher integration of variable energy sources and a new class of devices is approaching the market to satisfy this necessity.   In the new report released by IDTechEx: “Potential Stationary Energy Storage Device to Monitor”, the emerging class of energy storage devices, characterized by long storage duration and MW size power output, are investigated. While existing energy storage devices are already populating the market, from Li-ion batteries to pumped-hydro energy storage, this new class of storage technologies will aim to complete the puzzle of the energy storage market.   Pushed from the electrification of the automotive sector, Li-ion batteries have been deeply investigated in the last decades and are currently the standard choice for short and medium-duration storage.   On the other end of the storage market, pumped hydro energy storage (PHES) are the main energy storage systems supporting the grid. These systems have a power capacity of GW scale (1000s of MW), and long storage time, from days upwards. In between these two storage systems, a new group of storage devices is now approaching the market, with an intermediate power range, between MW to GW scale and an energy storage capacity that is almost indefinite. Power and storage capacity comparison of different technologies. Source: IDTechEx Research report “Potential Stationary Energy Storage Device to Monitor”   The devices investigated by IDTechEx include: Gravitational Energy Storage (GES): Piston-Based GES (PB-GES) Underground PHES (U-PHES) UnderWater GES (UW-GES) Advanced Rail Energy Storage (ARES) Compressed Air Energy Storage (CAES) Liquid Air Energy Storage (LAES) The market addressed by these systems aims to improve the quality, and resiliency of the electricity grid, and distribution networks. Therefore, it is aiming to address the Front-the-Meter (FTM) section of the electricity grid.   These devices, as investigated in IDTechEx’s new report “Potential Stationary Energy Storage Device to Monitor”, support the electricity grid providing peak-shaving service, grid deferral, and frequency regulation, among other possible services. Moreover, because some of these technologies involved the use of several turbines, some of these devices can address more than one service at the time, therefore increasing the value stacking of these technologies. Although they come with high capital costs, and are in their initial demonstration phase, these devices are a promising solution to stabilize the electricity grid and reach a high level of integration of variable renewable energy sources. For more information on this report, please visit www.IDTechEx.com/PotentialSES or for the full portfolio of Energy Storage research available from IDTechEx please visit www.IDTechEx.com/Research/ES.   IDTechEx guides your strategic business decisions through its Research, Consultancy and Event products, helping you profit from emerging technologies. For more information on IDTechEx Research and Consultancy, contact research@IDTechEx.com or visit www.IDTechEx.com.  

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The Evolving Energy Grid Demands High Energy Storage, and Power Output

The electricity grid is undergoing its first evolution since the invention of the power transmission system, and energy storage devices, particularly mechanical energy storage devices, will play a solid role in this evolution. Decarbonization, renewable energies, and energy storage devices are all factors involved in the current evolution of the electricity grid. In the last decades the integration of renewable energies, pushed by the necessity to decarbonize the electricity sector, led energy storage devices to become increasingly important to stabilize the electricity grid. The increased adoption of variable renewable energy led the electricity grid operator to adopt energy storage systems to smoothen the variability of renewable sources. Li-ion batteries, currently dominating the storage sectors in all of its aspects. From portable electronics to MW scale storage systems, Li-ion batteries will struggle in the future to address the MW scale power and daily storage duration, when Mechanical Energy Storage systems will enter the market. Power and storage compacity comparison of different technologies. Source: IDTechEx In the brand-new report “Potential Stationary Energy Storage Technologies to Monitor”, IDTechEx has investigated these emerging technologies. With a simple working mechanism, Mechanical Energy Storage systems are addressing the bigger spectrum of the energy storage devices: large power output, and long storage time. This new class of storage systems includes older and newer technologies. It includes elderly technologies like compressed air energy storage, already installed in the 1980s, and some of the younger gravitational energy storage, like in the case of Highview Energy, and Energy Vault recently backed with millions of dollars. These interesting devices are now entering the electricity market with demonstration projects, to prove the technical concept. The constant integration of variable energy sources will require additional storage devices to stabilize the electricity grid, where the Mechanical Energy Storage device could play a fundamental role. Electricity is an essential element of modern society, and reaching a stable electricity grid is a fundamental target to improve the economy of each and every country. The adoption of these innovative devices will surge in the next future, allowing an improvement of the electricity grid, and boosting the integration of variable energy source. For more information on this report, please visit www.IDTechEx.com/PotentialSES or for the full portfolio of Energy Storage research available from IDTechEx please visit www.IDTechEx.com/research/ES. IDTechEx guides your strategic business decisions through its Research, Consultancy and Event products, helping you profit from emerging technologies. For more information on IDTechEx Research and Consultancy, contact research@IDTechEx.com or visit www.IDTechEx.com.

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