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World Power Storage Capacity to Rise Threefold by 2030

World Power Storage Capacity to Rise Threefold by 2030World Power Storage Capacity to Rise Threefold by 2030

Global energy storage capacity could triple and storage costs could fall by 66% by 2030, driven by a doubling in renewable energy capacity, the International Renewable Energy Agency (IRENA) projected in a report released last week.

The tripling across all forms of storage could include a spectacular, 17-fold jump in battery storage, IRENA's report was cited by The Energy Mix.

“Currently, stationary electricity storage is 96% pumped hydro worldwide, but as the growth of solar and wind continues, so too will adoption of battery-based storage models,” PV Magazine reports, citing an IRENA release at Tokyo’s Innovation for Cool Earth Forum.

“Aiding the cost reduction of lithium-ion technologies in particular is the electric vehicle market, which engineered a 73% reduction in lithium-ion battery costs in the sector between 2010 and 2016.”

Stationary battery costs have fallen 40% since the last three months of 2014, the UAE-based IRENA noted, and improved lithium-ion chemistries could deliver 50% longer calendar life and a 90% increase in full-cycle capacity by 2030.

“Sodium sulphur batteries—capable of withstanding high temperatures—could enjoy a cost reduction in excess of 60% by 2030, with flow batteries on course for a cost reduction of around two-thirds current prices,” PV Magazine quoted IRENA as saying in a statement.

 “Storage technology will deliver service flexibility to the grid and electricity storage to small-scale rooftop solar applications in markets where commercial and residential electricity rates are high, and grid feed-in remuneration is declining,” Dolf Gielen, IRENA’s director of innovation and technology, said.

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