RePowerEU, the European Commission’s strategy to improve energy security and reduce reliance on Russian gas imports, should emphasize the integration of renewables and energy storage. Hydraulic pumping, hydrogen, green ammonia, lithium-ion batteries… Alternatives exist, but their development is insufficient at this time.
How long will fossil-fuel-generated power be a vital component of electrical systems? That is the challenge for those attempting to forecast the speed of the global energy transition, which is more important than ever in the context of the Ukraine conflict.
In truth, Russia supplies Europe with an average of 1,600 TWh of gas each year, accounting for around 40% of the continent’s demand. In Europe, there are probably roughly 300 TWh in storage right now, thus 1,300 TWh must be located in the next 12 months. What options does Europe have?
Producing electricity as Europe strives to reduce carbon emissions is one thing; storing it is another. Despite all of the advantages of renewables, the truth remains that the sun does not always shine and the wind does not always blow, limiting their useful capacity. They require energy storage systems that function in tandem with them.
According to a research issued by the International Energy Agency in November of last year, the world would need to develop 585 GW of battery storage capacity by 2030 to achieve net-zero emissions ambitions, compared to 17 GW now deployed. 2020. According to the same IEA research, total investment in battery storage would climb by about 40% by 2020, reaching nearly $5.5 billion, with grid-scale batteries accounting for more than 60% of total investment.
Installed energy storage projects are anticipated to rise more than 30-fold over the next decade, according to BloombergNEF. For energy storage to reach this position, when it can speed up the energy transition, a lot of things will have to go right. Technologies that are still in their infancy must grow. Regulators must figure out how to best incorporate energy storage into current regulatory frameworks, offer appropriate incentives, and eliminate roadblocks.
According to the US Energy Storage Association, the US will require 100 GW of storage by 2030 in order to satisfy its climate targets. It had 4.6 GW last year.
Technologies that are still developing
Beyond ordinary batteries, a variety of storage solutions have been created, each with its own set of benefits and drawbacks. These novel methods, ranging from pumped hydro storage to redox flow batteries, could make or break the world’s energy storage aspirations.
Lithium-ion batteries, on the other hand, continue to dominate this market. From Orsted’s 20MW Carnegie Road project in the UK to Tesla’s 100MW site in Australia, there’s something for everyone.
The redox flow battery is another type of battery storage that has garnered less investment and attention. These batteries release electrons through reduction and oxidation processes, which flow from one portion of the battery to another, powering the battery in the process.
The technology has a lot of potentials, especially because it’s modular. However, studies show that they are frequently less efficient than lithium-ion batteries.
Pumping
Since 1920, Europe has had pumped hydroelectric power facilities. They store energy in the form of water in a reservoir at the top of the dam, which can then be released to flow through the dam, rotating turbines and generating power when demand is high.
With a cycle efficiency of over 80% in all hydroelectric installations, these systems benefit from some of the most efficient processes in energy storage. The difficulty is that, despite the EU’s interest in expanding its capacity, these are major infrastructure projects that will take several years to complete.
Compressed air energy storage is similar to hydroelectric energy storage in concept, except it uses air instead of water. In the same manner that water is compressed and stored in underground chambers, air may be released and heated, causing it to expand and drive turbines, as in the hydroelectric storage technique.
The high complexity of catching and recycling hot air is its disadvantage, which means it hasn’t been used on the same scale as water pumping systems.
Similar projects spin flywheels using low-cost power, conserving rotational energy until needed.
Salts in a molten state
The storage of molten salts is another solution that is already in use on the market and in which Spain leads the globe.
Molten salts or molten salt thermal storage are commonly employed in solar thermal plants. It is the aspect that adds value to this technology since it allows you to preserve some of the heat you generate in the field and utilize it when you need it the most (at night). They might, however, be included in any renewable energy park, particularly solar.
The global molten salt thermal energy storage market is predicted to reach $1,743 million in 2026, up from $629 million in 2019, according to a new study from ResearchAndMarkets.com. Or, to put it another way, a 15.65% yearly growth rate.
Green ammonia and hydrogen
Renewable hydrogen is predicted to play a significant part in the decarbonization of sectors such as cement, steel, and transportation in the long run.
Although it has been stated that this technology is far from being cost-competitive with gas, it is already conceivable in the current environment of the energy crisis, with little hope of a short-term solution.
With the potential for photovoltaic solar installations, favorable regulation, and the adaption of gas installations in Spain, it is possible that it will be competitive in less than five years. Community authorities have proclaimed their plan to spend 430,000 million euros on “green” hydrogen by 2030 at the European Union level.
In short, there are alternatives, but they must be further developed to be as effective as fossil fuels. The pace with which it is implemented and its competitiveness are determined not just by market forces, but also by each country’s incentives to make it happen.
