Energy Storage: an imperative for the green transition

Energy storage is key to supporting increased renewable energy production, energy efficiency and energy security. Thus, the energy‑storage industry is moving rapidly from the periphery to the core of the energy sector.

According to the International Energy Agency, the expected increase in renewables under the Net Zero Scenario (NZS), requires a six-fold increase in installed storage capacity, to roughly 1.5 TW by 2030.

Energy storage is a fundamental pillar of the energy transition, and its deployment benefits can be summarized as follows:

1. Renewable power integration in the energy system
2. Grid stability & reliability
3. Resilience & security
4. Price stabilization
5. Local economies support

Electricity cannot be stored as such and therefore it needs to be transformed into other types of energy, such as mechanical or chemical. In addition to batteries, there are many storage technologies for different needs. The main types are: