energy storage

Time to get ahead in energy storage research and manufacturing

Time to get ahead in energy storage research and manufacturing  © Getty Images

The UK election is over but the outcome is still uncertain. Beyond the crude politics of securing a working majority in parliament, No 10 will no doubt be focused on the new wave of terrorism and the challenge of Brexit. But there are many other decisions that need to be made and in the energy field someone — a senior civil servant or trusted adviser if ministers are too preoccupied — should focus on an issue that could help reshape the world’s energy market.

Forget the energy price cap promised at the start of the election campaign and soon ditched in favour of yet another review after the realities of the market were pointed out by the industry and independent observers. Read more

FRANCE-ENERGY-HYDRO-ALSTHOM

A pump turbine at Alstoms' global technology and hydropower centre in Grenoble, France  © Getty Images

Storage — whether of grain or of knowledge through the printed word — has been a crucial element in human development. Of all the many technical advances that are transforming the energy business none is potentially more important than storage: it give us the ability to control the way, and crucially the timing, of energy consumption. Used on a major scale it could help to make heat and light available to those outside the commercial economy and could radically alter the energy mix.

Two excellent recent research reports summarise the current state of the art in the field and offer some predictions. The first is from Lazards and is the latest in a series assessing trends in the costs of different mechanisms. The second is from Moody’s and concentrates on the advances being made in reducing the cost of batteries.

In discussing storage it is important to demolish two myths. First, the technological advances are not about to transform the energy system to the point where a major proportion of consumers defect from existing distribution systems. Second, it does not require a dramatic breakthrough for making it on a significant scale to become economic. Read more

Those who think that the best responses to the risks of climate change are ever stronger regulation, complex international agreements and higher energy prices should take a look at what is happening in America.

In the US, carbon emissions have fallen by 13 per cent in the last five years and are at their lowest level since 1994. Energy demand is flat even though the economy is growing. The key statistics to watch are oil demand, which is at a 15 year low, and coal demand in the power sector, which is down by more than 20 per cent since 2008.

Furthermore, energy prices are also falling thanks to shale gas. They have yet to stabilise and there will have to be a shakeout within the gas sector. But prices will settle in the range of $4.50 to $5 – sustaining development but also providing a sharp reduction in input costs for consumers including manufacturing industry. Shale gas, however, is not the whole story. Next will come tight oil, which is oil from shale rocks. Then and potentially most important of all will come advances in energy storage. Bill Gates has just made his third major investment in an energy storage technology business. Read more