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Annual Report 2018

  • July 15, 2019

The need for more flexibility in our energy system increases as more countries are implementing instruments to contribute to the Paris Climate change agreement. The more international focus on accelerating the energy transition from fossil fuels to a renewables-based energy system. In order to match variable production of renewable energies (like wind and solar) with variable and changing demand profiles, energy storage is needed. Flexibility between time of use and time of renewable energy production as well as interaction between sectors (sector coupling) is required for a stable new (and renewable based) energy system. Energy storage in any form is required for this flexibility to provide economic solutions. Whether that be storage solution at a large scale (such as pumped hydro or the conversion of surplus electricity into hydrogen) or more decentralized thermal or electricity energy storage solutions in the build environment, industry and mobility sector; all will be needed. In this respect the “value” of energy storage is gradually recognized, both in terms of monetary value as well as a crucial value for stabilizing our energy system.