The Future of Energy Storage
- May 25, 2022 1:47 pm GMT
The Future of Energy Storage study is the ninth in the MIT Energy Initiative’s Future of series, which aims to shed light on a range of complex and vital issues involving energy and the environment.
Previous studies have focused on the role of technologies such as nuclear power, solar energy, natural gas, geothermal, and coal (with capture and sequestration of carbon dioxide emissions), as well as systems such as the U.S. electric power grid. Central to all these studies is understanding the role these particular technologies can play in both decarbonizing global energy systems and meeting future energy needs. Energy storage will play an important role in achieving both goals by complementing variable renewable energy (VRE) sources such as solar and wind, which are central in the decarbonization of the power sector.
The study will prove beneficial for a wide array of global stakeholders in government, industry, and academia as they develop the emerging energy storage industry and consider changes in planning, oversight, and regulation of the electricity industry that will be needed to enable greatly increased reliance on VRE generation together with storage. The report is the culmination of more than three years of research into electricity energy storage technologies— including opportunities for the development of low-cost, long-duration storage; system modeling studies to assess the types and roles of storage in future, deeply-decarbonized, highVRE grids in both U.S. regions and emerging market, developing economy countries; and implications for electricity system planning and regulation. The study was guided by a distinguished external Advisory Committee whose members dedicated a significant amount of their time to participate in multiple meetings; to comment on our preliminary analysis, findings, and recommendations; and to make available experts from their own organizations to answer questions and contribute to the content of the report.
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