Why Battery Storage Is Turbocharging Renewable Energy
With battery costs reaching all-time lows, the future has never looked brighter for renewables
Renewable energy is taking over electricity grids around the world. Wind and solar energy now provide almost 10% of global electricity, compared to less than 1% just 15 years ago.
This dramatic transformation has been powered by increasingly low costs. According to data from the International Energy Agency, wind and solar now provide electricity cheaper than virtually all other forms of power. However, there is one major drawback— intermittency.
Unlike many other sources, wind and solar do not provide power on a steady and predictable schedule. Instead, the electricity generated by a wind or solar farm depends on the weather.
This presents a challenge for grid operators. Demand for electricity fluctuates constantly, and grid operators must ensure that the supply of electricity meets demand at all times. When consumers turn on air-conditioners mid-day, they increase electricity production to compensate. Typically, this is done through “dispatchable” generation, which can adjust output as needed. The most common dispatchable sources include natural gas and hydro-electricity.
