With the phasing out of many coal and oil power plants worldwide scheduled for the next several years, renewable energy generation is set to replace them. However, this will not be possible without a cost-effective long-term energy storage solution. The growing interest in long-duration energy storage (LDES) is the result of several interacting factors. These include addressing the current challenge of intermittency, which continues to hinder the development of wind and solar energy. Secondly, new technologies for longer-term storage could put the US within reach of China, which continues to dominate current lithium-ion battery production. Lastly, further investment and increasing the availability of information on storage solutions will help to derisk and demystify the industry.
While there may not be a single technology used for decarbonizing, many of the new technologies will seek to solve one overarching problem: intermittency. Intermittency, wherein solar energy can only be harnessed when the sun is shining and wind energy only when the wind is blowing, is one of the most significant challenges that must be addressed to create a sustainable green economy. Renewable projects will become increasingly viable by allowing for the charging of long-duration storage batteries during peak renewable production and discharging them over the course of hours when electricity is required.
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