Britain will have to increase its energy storage capacity by at least ten-fold if the country is to hit net zero in the next 20 to 30 years, a report has warned.
Analysis by Imperial College said that the huge growth would be needed to accommodate the rise in intermittent renewable generation required to hit the target.
GB currently only has 3GW of storage but would need to increase it to 30GW.
Dr Iain Staffell, lead author of the research carried out for Drax’s Energy Insights paper, said that storage can play a pivotal role in dictating the pace, scale and cost of the energy transition.
“Along with other technologies, such as interconnection and flexible generation, energy storage helps integrate more renewables onto the system, which makes it easier to manage the grid and enables greater decarbonisation at lowest cost,” he said.
Meanwhile, the price of batteries dropped by 87% between 2010 and 2019 thanks to larger orders, rising electric vehicle sales and technological developments, according to Bloomberg New Energy Finance’s (BNEF’s) 2019 Battery Price Survey.
Costs have plummeted from $1,100/kWh in 2010 to $156/kWh in 2019 and are expected to hit fall below $100/kWh in 2024.