According to the Energy Storage Association, Exxon chemist Stanley Whittingham developed the concept of lithium-ion batteries in the 1970s and Sony and Asahi Kasei created the first commercial product in 1991.
The first batteries were used for consumer electronics, for instance in cell phones, and now, building on the success and proven reliability of these lithium-ion batteries, many companies have developed larger-format cells for use in energy-storage applications. Batteries are used to store power when there is an overabundance of electricity being generated and to discharge power to the electrical grid when it is most needed. This evolution has been made possible due to rapid advancements in battery technology based on the widespread use of cell phones, laptops and electric vehicles.
IN ADDITION TO LITHIUM-ION BATTERIES, THERE ARE NUMEROUS OTHER PROMISING ENERGY STORAGE TECHNOLOGIES. FLOW BATTERIES, MECHANICAL AND THERMAL STORAGE, PUMPED HYDRO, AND COMPRESSED AIR ARE ALL INCREASINGLY PROMISING OPTIONS.
Wood Mackenzie projects global deployments of grid scale storage to reach 500 GW by 2031, indicating a fundamental change in how the grid is managed. Much like the renewable energy that is driving their growth, the batteries that are used for the majority of new storage systems being deployed have fallen in price. This positions energy storage systems for a much broader integration into grid operations beyond renewable energy integration.
Battery installations in 2023 are expected to almost double the volume installed in 2022, according to Bloomberg. The growth of wind and solar, especially in the U.S. and Europe, is driving demand for energy storage which provides dispatchable and reliable power to the grid.
HOW DOES IT WORK?
Relatively small battery cells, very similar to the small batteries used in consumer electronics, are arranged into modules, which are then arranged into racks. These racks are housed either in purpose-built containers or buildings and are connected to the grid via inverters (turning DC electricity to AC and visa versa). This allows the storage system to charge and discharge stored energy, as needed.
IS IT SAFE?
Yes. Advances in technology and materials have greatly increased the reliability, output, and density of modern battery systems, and economies of scale have dramatically reduced the associated cost. Safety is paramount to continued and widespread use of energy storage. In fact, all energy storage projects must incorporate sophisticated battery and energy management systems as well as operations and management protocols to monitor, alert, and report all aspects of the facilities with multiple layers of redundancy 24 hours a day, 7 days a week. Fire prevention and mitigation is of the utmost importance. Independent requirements and certifications for fire safety have undergone rapid development and implementation in recent years.
Delivering clean, reliable and affordable power to the world, today and tomorrow.
ADCN Energy is one of the world’s largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, we are a wholly-owned subsidiary of ADCN and function as ADCN’s global development and power services business.