Taken From: No2NuclearPower April 2017
5. Old Energy Order Draws to a Close
The old energy order is drawing to a close as a battery storage revolution takes off, according to the Telegraph. Over the last two years, battery costs have fallen 40%, with further falls to come as economies of scale take hold. Rapid growth in the market for battery storage, forecast by Goldman Sachs to increase by a thousand - fold from $258m (£210m) last year to $258bn in 2025, should in turn remove a number of the key economic constraints on renewable forms o f energy. Wind and solar are intermittent forms of energy, and hitherto have therefore required complementary back - up generation to ensure there is enough power in the grid at all times to service demand. The great promise of storage is that it should lend renewables the same “always on” characteristics of more conventional forms of power, allowing electricity to be drawn when the wind is blowing, and given out again when it is not.
- Category: News