Energy storage with more than four hours of duration could play an important role in integrating lots of renewable energy onto the U.S. power grid, but it makes up less than 10% of the storage deployed since 2010. That may change with a potential shift to net winter demand peaks, according to a that analyzed the fundamental role of energy storage in maintaining a resilient, flexible, and low-carbon U.S. power grid through the year 2050.
On top of the fixed capacity rule, while markets value energy storage’s ability to store low-cost off-peak energy and sell stored energy during times of higher prices—also called time-shifting or arbitrage value—there is lower incremental value for this service for duration beyond four hours. The high value proposition and low storage costs of lithium-ion batteries have provided little economic incentive for development of energy storage greater than four hours, especially in the summer.
Shifting the value proposition of longer-duration storage also means advancing storage technologies and highlighting the value of additional storage capacity. Various technologies—such as thermal storage or next-generation compressed-air energy storage—have the potential to reach cost parity with Li-ion batteries and longer service lifetimes. New battery storage technologies are another avenue for development.
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