In the past years, wind and solar energy have reached their all time low price level, allowing for an increasing and widespread use and installation of such renewable energy systems. On the other hand, the prices of energy storage technologies have been remaining too high.
For this reason, research and development in this realm has been focusing on finding cheaper technologies to allow for a decrease in its prices. Why? The recent democratisation of renewable energy is a ground breaking factor in the green transition, especially when it comes to solar communities, microgrids and agrivoltaic system, which address the usage for example of solar panels from citizens and communities in urban areas.
The crucial element will be energy storage: Cheap energy storage will work as a pool of energy that can be autonomously managed by the owner of a renewable resource, in a flexible way, so that green electricity can become even more widespread. This will improve the efficiency and decrease the cost of electricity, as the owner of such a facility will be able to withdraw and store energy without having to rely on the wider grid.
What are the future expectations? A video explains what the future of energy storage could look like.
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Sources: Crabtree, G. Perspective: The energy-storage revolution. Nature 526, S92 (2015). https://doi.org/10.1038/526S92a