By 2030, 70-80 percent of our electricity will come from low-cost but intermittent renewables. Maximising the potential bill savings from this low-cost generation will mean storing all extra electricity produced when output is high, so it can be released back into the grid ‘when the sun doesn’t shine or wind doesn’t blow.’
Long duration energy storage (or LDES) technologies (usually defined as having the ability to store and discharge energy for 4 hours or more) will be key here.
Aurora Energy Research estimates that 24GW LDES could be needed (eight times current levels). Relevant technologies include pumped-hydro, liquid or compressed air, flow and longer duration lithium-ion batteries, gravitational, thermal and hydrogen storage.
Government agrees that intervention is necessary and has committed to develop ‘appropriate policy to enable investment by 2024’. To unlock investment, industry is looking for a clear steer on this policy in early 2023.
Energy UK’s members hold much of the UK’s installed capacity and are actively developing the new pipeline (new and existing technologies). Join our expert panel to discuss how policy can drive change here.
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