FactBook key findings: Electricity storage now gaining momentum
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A.T. Kearney Energy Transition Institute provides leading insights on global trends in energy transition, technologies, and strategic implications for private sector businesses and public sector institutions. This latest FactBook by the Institute on electricity storage is one of series of FactBooks developed by the Institute on various technologies that contribute to the global energy transition. It is an academically reviewed FactBook and captures the status of storage technologies and areas for research and development, as well as analyzes the economics of a range of technologies. Today 96% of the world-wide storage capacity is pumped hydro-storage, but in the future other technologies may help further expand storage capacity leveraging new technologies.

Electricity storage continues to gain momentum globally. Being essential to the development of renewable energy and electric vehicles, electricity storage is at the heart of the global energy transition. It enables many new applications and uses including the overall electrification of energy systems. Considering the electrification trend in many sectors and the growth of decentralized energy solutions, the demand for electricity storage will only grow, at least over the next decade. Relying on several and different technologies, electricity storage is a very dynamic research domain where many innovations are emerging from the “valley of depth ”. By far, hydro storage remains the dominant technology, while some battery technologies still need to demonstrate their economics at various scales of application.

Some of the key findings from the FactBook are:

  • Integrating intermittent sources of energy requires additional flexibility resources and gives new momentum to electricity-storage solutions 
  • The features of storage technologies must match application requirements. The underlying physical features of technologies determine their advantages and drawbacks
  • Electricity storage is not a new concept, but interest in this storage is increasing
  • Research, development, & demonstration is making inroads into solving technological obstacles
  • Environmental and social impacts vary according to the technology and might hinder development in some cases                

For more information about the Electricity Storage FactBook, click here. 

To know more about the A.T. Kearney Energy Transition Institute, click here.

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