Blogs
Discover expert perspectives, industry trends, and innovative solutions in the world of energy storage and sustainability. Our blog offers valuable knowledge to keep you ahead in the rapidly evolving energy sector.
Recent global crises—from the COVID-19 pandemic to the Ukraine war—have shined a spotlight on vulnerabilities in the global supply chain. Additionally, looking to the future, increasing competition between the energy storage and electric vehicle supply chains could constrain battery availability and leave less-experienced players scrambling to secure the needed supplies to meet demand. To put this increasing competition into perspective, a 2022 analysis by the McKinsey Battery Insights team projects that the lithium-ion battery chain, from mining through recycling, could grow by more than 30 percent annually, reaching more than $400 billion and 4.7 TWh, through 2030.
This guest article dives into the key points of a study that Fluence recently commissioned to Consentec, a Germany-based consultancy. The study explores how the economics of the 450 MW Grid Booster assets in Germany could be improved if they were allowed to deliver services to the grid operator and energy markets in addition to their primary use case as grid boosters.
Renewables and battery-based energy storage must be deployed at a relentless pace over the next decade to meet the world’s ambitious decarbonization goals and mitigate the impacts of climate change. To put this growth in perspective, BloombergNEF’s 2023 Energy Storage Market Outlook shows a 23% compound annual growth rate in energy storage to 2030, with annual additions reaching 88 GW, or 5.3 times the volume of installations in 2022. BNEF’s outlook tracks well with the International Energy Agency’s Net Zero Emissions by 2050 Scenario which shows the need for a significant uptick in grid-scale energy storage deployments to an average of over 80 GW per year through 2030. In short, fasten your seatbelts because we’re entering warp speed.
The purpose of codes and standards in any industry is, respectively, to provide minimum criteria for ensuring the safety of life and property, and to establish industry best practices. Codes are written into regional laws and are therefore required, while standards are written by reputable industry organizations, such as Underwriters Laboratories (UL) and International Electrotechnical Commission (IEC), and are only required if referenced in code.
