Energetica India Magazine January-February 2021

ENERGY STORAGE How Latest Energy Storage Technology and Trends Can be a Game-Changer for the Renewable Sector Energy storage is increasingly lucrative, because of its growth and acceptance as a major part of the grid. Energy storage allows the storing party to meet energy demand when that energy demand outweighs supply and prices are better for producers. Accordingly, wind and solar developers are increasingly adding small battery storage projects to wind and solar farms, so that they can take advantage of opportunities to sell energy at optimal prices. 40 energetica INDIA- Jan-Feb_2021 Decarbonisation of the energy sector is an urgent matter, re- quiring swift responses to avoid irreversible climate changes. Renewable energy sources are expected to be the future of the energy sector, but their intermittency requires the development of efficient, versatile and economical energy storage systems and we believe Lithium Ion is one of the best options to rely on. Hydrogen fuel cells, Energy from plastic and Advance Lithium Ion are the strongest contenders to fill the gap in the energy transition. ENERGY STORAGE BUILDS LOW- CARBON ECONOMIES Energy storage technologies are among the most promising tools we have to expand integration of renewables more effec- tively and with the speed and scale that the climate crisis de- mands. Some storage technologies are relatively mature, but need to be scaled up, while others are still developing. Greater investment is needed to mitigate risk, reduce costs, and clear a path for expanding use and availability of these critically im- portant technologies. As we know that Renewable energy has taken off. Wind and solar in particular had grown rapidly, since they can be in- stalled on a small scale and connected to the grid. This has created a number of problems for utility companies while fail- ing to deliver the promised benefits because energy storage technology has not caught up. Let’s look at some of the issues with renewable energy and how to mitigate the same before explaining how advances in energy storage technology will ease these concerns. These energy storage stations have several benefits: 1. Improve Reliability & Resilience : A more efficient grid that is more resistant to disruptions. It helps ensure uninterrupted power is supplied, whenever and wherever it is needed. 2. Integrates Diverse Resources : It will store else’s energy when the sun is shining and the wind is blowing, and use it when the opposite is happening. This is a great way to main- tain a sufficient load on the grid, as well as providing backup power. 3. Environment : Decreased carbon dioxide emissions from a greater use of clean electricity. Utility-scale batteries, for example, can enable a greater feed- in of renewables into the grid by storing excess generation and by firming renewable energy output. Furthermore, particularly when paired with renewable generators, batteries help provide reliable and cheaper electricity in isolated grids and to off-grid communities, which otherwise rely on expensive imported die- sel fuel for electricity generation and also contributed towards the development of SDG’s of the UN. The Growth of Energy Storage Energy storage systems are often thought of as batteries and peculiarly called lithium Ion, but energy storage can take many forms. The most common is pumped storage hydropower, which is where excess electricity is used to pump water to a A.K. Shukla Founder, Sanvaru Technology