Evolution of Energy Storage and Future Role of Hydrogen:
- Jul 22, 2020 9:42 pm GMT
This item is part of the Energy Storage Insights - Summer 2020 SPECIAL ISSUE, click here for more
In today’s world, there’s an ever growing need for energy storage because a greater percentage of electricity is expected to come from renewable sources in the future. Wind and solar power have made great strides in the past decade but are still intermittent sources of energy which depend on the availability of wind or sun. Thus, these sources require backup energy as well. Part of the demand growth in natural gas came not just from greater supply and lower pricing due to new technologies such as fracking, but also from greater demand resulting from the growth of intermittent renewable wind and solar energy. However, moving forward, cleaner energy alternatives are being demanded in power applications which include backup energy storage power or other applications such as vehicles powered by batteries or hydrogen fuel cells. Similar to technology advances made in wind and solar, the battery energy storage sector has also evolved resulting in lower cost energy storage.
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