New analysis on energy storage technologies commissioned by the Australian Renewable Energy Agency suggests that the cost of storage is lower than most people might think. The report emphasises that there is no silver bullet to cover all the storage needs – different technologies are suited to different time frames – but there is no reason to think that it will be any more expensive than using fossil fuels. In fact, it’s likely going to be much cheaper. The study, titled “Comparison of Dispatchable Renewable Electricity Options: Technologies for an Orderly Transition, finds that whatever the storage need – be it one hour, five hours, 24 hours, several weeks – there is a renewable storage option that does not cost more than 1.5 and 2 times the cost of wind and solar itself.
Renew Economy 30th Oct 2018 read more »