Long-duration energy storage is in urgent need of being scaled up to help meet climate targets set out at this week’s COP28 summit, said industry body the LDES Council.
The agreed compromise statement at the summit called for transition away from fossil fuels, triple renewable energy development and double energy efficiency by 2030.
Julia Souder, CEO of the LDES Council, said: “The global majority spoke with their agreement to significantly increase renewable energy development by up to 11TWh by 2030.
“To truly capitalise on this, we urgently need to develop up to 8TWh of long duration energy storage. This is crucial to manage the intermittency of renewable sources like solar and wind, and to ensure a stable, reliable, renewable energy supply of clean power for the world.”
Gabe Murtaugh, Director of Markets and Technology at the LDES Council said that calls for technological innovation and market readiness: policies supporting LDES development, financial mechanisms for investment, and a concerted effort in public-private partnerships.
The Council said LDES technologies such as flow batteries, compressed air energy storage and advanced thermal storage offer the potential to store energy for ranging from 4–100+ hours, making them ideal for bridging gaps in renewable energy generation.
In light of the commitments made at COP28, the LDES Council said it is calling for “a global focus on scaling up LDES technologies”.
Photo: Julia Souder, CEO of the LDES Council: We urgently need to develop up to 8TWh of long duration energy storage. Credit – LDES
