WHY WE NEED STORAGE

INCREASING NEED FOR STORAGE

With an increasing share of renewable power in the energy production, it is becoming increasingly important to find innovative solutions for energy storage. Solar and wind power are so called intermittent energy sources. This means that their production cannot be planned but is instead relying on the current weather conditions. The greater the share of production that these sources account for, the more difficult it becomes to match the electricity production and consumption. 
 
The electricity grid also has its own limitations. These mean that you cannot transport electricity large distances without it costing energy in the form of losses in the grid. To reduce these losses, local energy storage is needed. 
 
In order for the growth rate of sustainable electricity to be able to increase, more investment is needed in storage solutions that can secure the electricity supply at all times. The long-term climate work therefore requires new, innovative technologies for large-scale energy storage.
zhang-fengsheng-gUKv_yrQ_tk-unsplash-scaled.jpg
gonz-ddl-a1Lm99Kkqtg-unsplash-scaled.jpg

VARIOUS ENERGY STORAGE TECHNOLOGIES

With a growing share of weather-dependent electricity production, price volatility in the electricity market is increasing. At the same time as there is a growing need for frequency regulation in the electricity grid, i.e. the ability to continuously secure the stability between supply and demand.

Competitive energy storage must be cheap, have a high efficiency and be able to respond quickly to changes in the electricity grid. It must also have a long life-cycle, low environmental impact, and a long discharge time. The only existing technology that meets these requirements is pumped storage in mines, which Pumped Hydro is the only one to offer.

THE ENERGY STORAGE MARKET

Underground pumped hydro power meets all the requirements placed on the single most important type of energy storage that enables energy transition. In terms of competing technologies, PSH is the dominant way of storing energy, with 94 percent of total capacity globally (International Hydropower Association, 2018). By 2040, the global energy storage market is expected to grow to 1,095GW / 2,850GWh [BloombergNEF].

Investments over the next 20 years are expected to amount to $662 billion, which would correspond to over 50,000 large-scale underground pumped storage plants of 100 MW each.

Contact us today

If You have questions, don’t hesitate to contact us via the button below. 

Pumped Hydro Storage is proud to be working to achieve the following of UN's sustainability development goals

Föregående
Nästa

This website or its third-party tools process personal data (e.g. browsing data or IP addresses) and use cookies or other identifiers, which are necessary for its functioning and required to achieve the purposes illustrated in the cookie policy. You accept the use of cookies or other identifiers by closing or dismissing this notice, by clicking the accpept button or by continuing to browse otherwise.