Special report on energy storage

What is the future of energy storage?

“The Future of Energy Storage,” a new multidisciplinary report from the MIT Energy Initiative (MITEI), urges government investment in sophisticated analytical tools for planning, operation, and regulation of electricity systems in order to deploy and use storage efficiently.

Why is energy storage important?

As the report details, energy storage is a key component in making renewable energy sources, like wind and solar, financially and logistically viable at the scales needed to decarbonize our power grid and combat climate change.

How do we evaluate the performance of battery resources?

We evaluate the performance of batteries using several key metrics, and assess the recent market enhancements for battery resources. Battery storage capacity grew from about 500 MW in 2020 to 5,000 MW in May 2023 in the CAISO balancing area.

Which storage resources are exempt from mitigation?

Storage resources with five MW or less of capacity , and whose parent company is not a net-supplier in the ISO market, are exempt from mitigation . As with all resource types, batteries are subject to mitig ation based on when they can provide counterflow to relieve congestion on a binding non- competitive transmission constraint.

Does India have a plan for battery energy storage?

In its draft national electricity plan, released in September 2022, India has included ambitious targets for the development of battery energy storage. In March 2023, the European Commission published a series of recommendations on policy actions to support greater deployment of electricity storage in the European Union.

What are the different types of energy storage technologies?

Other storage technologies include compressed air and gravity storage, but they play a comparatively small role in current power systems. Additionally, hydrogen – which is detailed separately – is an emerging technology that has potential for the seasonal storage of renewable energy.