Here are the key ideas that you should retain from this week:
- The urgent need for flexibility calls for an increase of battery storage share. To reconcile on the one hand an increased share of renewables, some intermittent, in the electricity market, with on the other hand unbalanced consumption patterns of consumers and power plant contingency issues there is an increased need for flexibility resources and solutions. Battery storage can offer this flexibility. The time has come for batteries to enter the market:
prices have already decreased considerably
traditional solutions are becoming comparably costlier
batteries are a fast solution
there are already key markets showing the way.
- There are several types of energy storage technologies Four main groups of energy storage technologies are chemical, mechanical, electrical and electrochemical storage. Battery technologies belong to the electrochemical storage group This group includes lithium-ion, lead-acid and flow batteries. Batteries are highly deployed in the electricity industry due to their valuable technical characteristics. Lithium-ion batteries are suited for a number of different applications. They are already used for different mobile and stationary applications. Flow batteries are suited for services that require both high power and energy. Lastly, lead-acid batteries are a mature and fully developed technology. They used to be utilised in a number of applications and services but are slowly overtaken by Li-ion batteries in the market.
Come back for the second week during which we will dive into two very important battery storage applications, more precisely at grid-scale and in electromobility.