- The sustainability issue addressed in this article is the use of energy storage for global grid connectivity. Energy storage will increase the availability and usage of renewable resources, decreasing dependency on fossil fuels.
- Lithium-ion batteries will become the mainstream energy storage technology and account for nearly 80% of all global storage installations by 2025, according to a report published by information and analysis company IHS Markit.
- Energy storage is set to grow as fast at solar photovoltaic energy has in recent years.
- United States and Japan are leading the way in storage technology set to generate a third of the markets total revenue totaling $50 billion over the next ten years.
- Activity is being seen in South Africa, Kenya, the Philippines and other countries as the cost for batteries continues to decline.
- Half of the energy storage installations will take place behind the meter driven by self-consumption.
- Stakeholders involved will be renewable energy companies, homeowners, off-grid energy users, utilities and globally connected grid entities.
- The next steps in deploying the technology is perfecting the lithium-ion battery and making it a secure device to use in homes. It will be essential that the grid can handle load flexibility and that it can utilize the energy going both ways while maintaining reliability. If storage is the next step in decreasing dependency on fossil fuels, an incentive program, similar to that of solar incentive installations would be beneficial and make the technology affordable to consumers.
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