December 3, 2021: A new Long-Duration Energy Storage Council report published in November has estimated that the world needs up to 140TWh of long-duration storage by 2040 if the world’s grids are to become net-zero.
Co-authored by US battery manufacturer ESS, the report says deploying long-duration systems for storing renewable power such as wind and solar-generated electricity will be key to achieving international storage targets.
The LDES council is a new organization that was created to coincide with the recent COP26 climate change summit held in Scotland. It consists of energy firms and developers such as Ambri, Highview Power, ESS and CellCube, among others.
Its 76-page report, Net-zero power: Long duration energy storage for a renewable grid, gives advice on how to increase long-term storage and encourages governments to support early deployment to ‘help kick-start the market’.
“LDES offers a lower-cost flexibility solution in many — but not all — situations,” it says. “A diversified suite of solutions is likely to be deployed in order to achieve a cost-optimal decarbonization of the grid by 2040.
“The prize of deploying LDES at scale, however, is great. It is estimated that by 2040, LDES deployment could result in the avoidance of 1.5 to 2.3 gigatonnes of carbon dioxide equivalent per year, around 10% to 15% of today’s power sector emissions.
“In the US alone, LDES could reduce the overall cost of achieving a fully decarbonized power system by around $35 billion annually by 2040.”
The report says major reductions in the cost of technologies will be needed before this order of scale can be realized — “but projections by LDES Council member companies show these are achievable and in line with learning curves experienced in other nascent energy technologies in the recent past, including solar photovoltaic and wind power.”