Advisory Insights

Advisory Insights: Long-duration energy storage

The energy transition is accelerating across the energy sector, driven by cost reductions and supported by policy. The power sector has over the last decade shifted strongly towards solar PV and wind – in 2024 we expect solar production to increase by 50 Terrawatt hours (TWh) and wind by 38 TWh in Europe alone. Utilities and transmission system operators are increasingly looking at ways to integrate large volumes of wind in general in a system that was set up during the age of large coal-fired power plants. Excess production and curtailment is expensive, but not a societal issue – the same cannot be said of shortfalls and periods of insufficient production.

Some type of zero emission, long-duration storage is consequently required to support the continued buildout of green energy sources. It is, however, time to shift from a technology-oriented mindset to a business-oriented one.

Analysis by Rystad Energy Advisory finds that there is significant untapped potential in integrating the power sector from producer to consumer. Energy companies should position themselves to capture this potential today.

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