As 2016 draws to a close, edie reflects upon a year that saw energy storage evolve from a relatively abstract low-carbon concept into a crucial catalyst in the global transition to clean energy. The world will witness an international ‘megashift’ towards energy storage – batteries in particular – within the next 10 years. That was the prediction made by the Australian Renewable Energy Agency (ARENA) in the summer of 2015. A year later, Bloomberg New Energy Finance (BNEF) went a step further, estimating that the annual investment in energy storage systems will increase six-fold to $8.2bn (£6.7bn) in 2024, and to $250bn (£197bn) by 2040. This massive growth in energy storage – first in the utilities sector, and then among corporations seeking to reduce overheads – will create a “fundamentally different” global power system, BNEF senior analyst Logan Goldie-Scot said at the time. If 2016 was anything to go by, the energy storage megashift is already beginning to gather pace. The battery market has seen breath-taking levels of growth from utilities over the past 12 months, while non-utilities are increasingly realising that lithium-ion or flow storage systems can act as the perfect accompaniment to on-site renewable energy installations.
Edie 14th Dec 2016 read more »