{"id":50859,"date":"2024-09-04T08:10:18","date_gmt":"2024-09-04T07:10:18","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=50859"},"modified":"2024-09-04T08:10:18","modified_gmt":"2024-09-04T07:10:18","slug":"analysing-progress-in-developing-europes-energy-storage-sector","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/analysing-progress-in-developing-europes-energy-storage-sector\/50859\/","title":{"rendered":"Analysing progress in developing Europe\u2019s energy storage sector"},"content":{"rendered":"
As the world navigates its transition to renewable energy, the importance of grid flexibility has become increasingly evident. With many renewable energy sources, such as wind and solar, providing an intermittent electricity supply, it is challenging to rely heavily on these technologies to meet supply and demand on a large scale without the capacity to store excess energy for use during peak times.<\/p>\n
Considerable research and development has been directed towards this aim, and EIT InnoEnergy is committed to facilitating advanced energy storage technologies to support Europe in meeting its green goals.<\/p>\n
To discuss the evolution of the energy storage sector and highlight the significant strides being made towards long-duration energy storage capacity, The Innovation Platform<\/em> spoke with Johan Soderb\u00f6m, EIT InnoEnergy\u2019s Thematic Leader of Smartgrid and Storage.<\/p>\n In order to meet the ambitious sustainability goals set for 2030, it is essential to double the capacity of the electrified energy market. While there is considerable focus on researching and innovating green energy solutions to meet this demand, it is equally vital to assess the grid\u2019s ability to support the anticipated increase in energy consumption.<\/p>\n Energy storage plays a vital role in the transition to sustainable energy by providing the necessary flexibility to adapt to the changing energy landscape. Various types of energy storage, including batteries and other electricity storage options, can be incorporated into the grid to alleviate strain and enhance overall efficiency. Opting for strategic storage flexibility resources is a more efficient and cost-effective approach compared to the expensive and time-consuming alternative of adding more copper to the grid.<\/p>\n In recent years, there has been significant progress in energy storage technologies. Historically, around 90% of global electricity storage relied on pumped hydropower, which, while effective, required substantial space and challenging permitting efforts.<\/p>\n Battery costs have significantly decreased since the mid-2010s, largely due to the demand from the electric vehicle industry. Consequently, we are witnessing the emergence of large battery installations integrated into the grid, with global installations exceeding 40GW in 2023. Initially, batteries were predominantly employed in residential settings, behind the meter, as a complement to solar power systems for optimising self-generated electricity consumption. Over the past five years, batteries have rapidly become widely accepted as grid assets.<\/p>\n Redox flow batteries are a promising solution for large-scale energy storage with the potential to integrate renewable energy sources like solar and wind into the grid efficiently. In particular, they are well suited for long-duration energy storage, which is crucial for balancing intermittent renewable energy sources. Energy is stored in liquid electrolytes in external tanks and undergoes reversible oxidisation and reduction reactions to convert energy. This solution is easily scalable and durable, with the batteries having a long operational lifespan. EIT InnoEnergy is supporting a number of companies in advancing this technology and ultimately integrating flow batteries into the grid.<\/p>\n Research and development of long-duration storage solutions tailored for grid deployment are ongoing. Currently, batteries can effectively store energy for one or two hours, but we may soon require storage for longer durations. Consider the scenario in southern Europe, where extensive solar power plant installations are tied to the grid. By pairing these solar facilities with batteries, it becomes possible to supply electricity around the clock. This continuous access to renewable energy is crucial for the system, but it demands longer storage capabilities.<\/p>\n Over the decades, the need for long-duration storage has become increasingly important due to high fluctuations in the electricity market. Efforts to decarbonise industries such as steelmaking and fertiliser production require 24\/7 access to green electricity to generate green hydrogen, which necessitates longer storage times exceeding four hours. Technologies such as flow batteries and new methods for pumped hydro storage are emerging.<\/p>\n One company supported by EIT InnoEnergy, a leading organisation in this field, is Mine Storage. Mine Storage specialises in transforming abandoned mines into valuable energy storage solutions. They utilise the well-known principles of pumped storage hydropower, using water and gravity to store and release energy between two underground chambers. This closed-loop system repurposes existing infrastructure, making it a more sustainable and cost-efficient solution for energy storage. With EIT InnoEnergy\u2019s support and investment, the goal is to scale up this approach and implement it worldwide.<\/p>\n EIT InnoEnergy is an advanced investor who does not directly manage projects but focuses on identifying new technologies and early-stage assets. Our investments cover the entire value chain and support Europe\u00b4s energy transition, identifying gaps that need addressing.<\/p>\n Beyond the investments we mentioned previously,\u00a0 EIT InnoEnergy has since 2017 directed its efforts into cell manufacturing, where we\u2019ve heavily invested in several complementary companies. One of these is Verkor, a prominent cell manufacturer in France and one of the first major European companies to enter the market. Verkor specialises in developing and manufacturing high-performance battery cells for high-end electric vehicles and other demanding electrification applications. By being part of the EIT InnoEnergy ecosystem, Verkor has successfully built robust manufacturing capacities that benefit all of Europe.<\/p>\n EIT InnoEnergy is exploring new technologies, including Basquevolt, one of the first production facilities for solid-state batteries. These batteries represent the next generation of lithium-ion technology and advanced cell manufacturing, promising much higher energy densities and thus opening more affordable lightweight electric vehicles.<\/p>\n In addition, earlier this year, EIT InnoEnergy launched Repono, a pan-European company aimed at boosting Europe\u2019s energy storage. Its strategic approach can be replicated worldwide to accelerate the deployment of energy storage systems. Repono aims to enhance grid stability by strategically deploying, owning and operating large-scale storage facilities. By 2030, in line with the European Commission\u2019s target of achieving a 42.5% share of renewable electricity, Repono plans to have deployed 100 gigawatt-hours of energy storage in Europe<\/p>\n Integrating energy storage solutions into existing urban planning is pivotal for future grid development, considering the challenges associated with building new electricity infrastructure. Initially installed behind the meter in residential quarters, batteries were used to support the optimisation of self-generated electricity consumption. The next step is to aggregate these batteries and offer their spare capacity to the grid, providing flexibility in urban settings and thereby transforming residential facilities into grid-integrated resources rather than simple energy consumers.<\/p>\n The rapid deployment of batteries in electric vehicles presents another significant avenue. The forthcoming vehicle-to-grid installations will enable electric vehicles to feed electricity back into the grid, presenting a large, flexible resource. Many vehicles are already capable The retail side of the electricity market is also evolving, with companies offering hourly contracts, providing an opportunity for consumers to respond to pricing signals. This not only benefits individual consumers by optimising costs but also benefits the overall system by utilising excess renewable energy. Integrating storage in these various ways presents numerous opportunities for urban planning and energy infrastructure.<\/p>\n If we are to sustainably implement storage capacity in the European grid, our value chain also has to be sustainable, and this is undeniably one of the most formidable tasks at hand.<\/p>\n EIT InnoEnergy supports the European Commission\u2019s initiative to establish a green battery supply chain in Europe. Currently, we mostly import complete batteries, battery cells, and battery materials from Asia, with China being the dominant supplier.<\/p>\nCan you explain the importance of energy storage to the green transition and recent developments in the sector?
\n<\/strong><\/h3>\nHow does EIT InnoEnergy support energy storage in Europe?
\n<\/strong><\/h3>\nHow can energy storage be integrated into infrastructure?
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\nof vehicle-to-grid operation, but infrastructure investment is needed to connect them with a bidirectional charger.<\/p>\nHow can we address challenges to widespread implementation?
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