A new report from Zhar Research has revealed that electricity delays of more than eight hours are becoming increasingly common as countries adopt more wind and solar energy sources. Dr Peter Harrop, CEO of Zhar Research, stated that this could create a trillion-dollar global requirement for long duration energy storage (LDES) over the coming years.
The report also found that the required delay and duration of subsequent discharge extends as more renewable energy sources are adopted, making it increasingly difficult for companies and technologies to compete. With the need for seasonal storage also being reduced, Dr Harrop believes that LDES can be reduced in certain locations due to the availability of abundant hydroelectric power in Norway and plans for solar in Africa.
For the mainstream grid, the report highlighted that PHES and CAES are likely to be the winning technologies, with projects such as Snowy 2.0 PHES in Australia offering seven days of continuous usage. However, beyond-grid solutions will also need to be considered, with the end game being price-competitive solutions that are non-flammable and have a life of 30-100 years.
Dr Peter Harrop commented, “Several companies are cutting corners by leaping from small pilots to very large commercial facilities. That can end in tears. The end game will be winning technologies for grid such as PHES and CAES. There will be different winning technologies for beyond-grid but both sectors will progress to price-competitive solutions that are up to one-month discharge duration, non-flammable and with 30-100-year life.”
A new report from Zhar Research has revealed that electricity delays of more than eight hours are becoming increasingly common as countries adopt more wind and solar energy sources. This could create a trillion-dollar global requirement for long duration energy storage (LDES) over the coming years.
Dr Peter Harrop, CEO of Zhar Research, commented, “Relatively continuous sources of electricity are proliferating with google pioneering forms of geothermal that are more widely deployable and the European Commission targeting 1GW of open-ocean tidal and wave power by 2030. Add the UK showing leadership with wave and tidal and North America heavily investing. The need for seasonal storage will also be crimped by global warming giving us warmer winters and developing countries having warmer winters anyway. Demand timing can be reduced by appropriate pricing.”
The report also found that the required delay and duration of subsequent discharge extends as more renewable energy sources are adopted, making it increasingly difficult for companies and technologies to compete. With the need for seasonal storage also being reduced, Dr Harrop believes that LDES can be reduced in certain locations due to the availability of abundant hydroelectric power in Norway and plans for solar in Africa.
For the mainstream grid, the report highlighted that PHES and CAES are likely to be the winning technologies, with projects such as Snowy 2.0 PHES in Australia offering seven days of continuous usage. However, beyond-grid solutions will also need to be considered, with the end game being price-competitive solutions that are non-flammable and have a life of 30-100 years.
Dr Peter Harrop concluded, “Several companies are cutting corners by leaping from small pilots to very large commercial facilities. That can end in tears. The end game will be winning technologies for grid such as PHES and CAES. There will be different winning technologies for beyond-grid but both sectors will progress to price-competitive solutions that are up to one-month discharge duration, non-flammable and with 30-100-year life. The $5 billion winning operations will offer both grid and beyond-grid solutions but there will be successful niche players as well.”
A new report from Zhar Research has predicted that as countries adopt more wind and solar energy sources, electricity delays of more than eight hours will become increasingly common. This could create a trillion-dollar global requirement for long duration energy storage (LDES) over the coming years.
Dr Peter Harrop, CEO of Zhar Research, said, “Relatively continuous sources of electricity are proliferating with Google pioneering forms of geothermal that are more widely deployable and the European Commission targeting 1GW of open-ocean tidal and wave power by 2030. Add the UK showing leadership with wave and tidal and North America heavily investing. The need for seasonal storage will also be crimped by global warming giving us warmer winters and developing countries having warmer winters anyway. Demand timing can be reduced by appropriate pricing.”
The report also found that as more renewable energy sources are adopted, the delay and duration of subsequent discharge increases, making it increasingly difficult for companies and technologies to compete. Dr Harrop suggested that LDES can be reduced in certain locations due to the availability of abundant hydroelectric power in Norway and plans for solar in Africa.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.