Energy Storage Opportunities in Emerging Markets

Energy Storage Opportunities in Emerging Markets

Energy CIO Insights | Friday, November 20, 2020

Energy storage technologies play a vital role in terms of high-efficient energy utilisation and stable energy flow.

FREMONT, CA: Today, the world is going through a revolution. Just as electric light became competitive with a gaslight, electric cars are becoming competitive with technologies based on fossil fuels. However, for the new technologies to become truly transformative, there is a rising need to develop a new generation of energy storage to power them. Energy storage technologies provide several approaches to manage power supply to create a more resilient energy infrastructure and bring cost savings.

Top 10 Energy Storage Solution Companies - 2020Utility companies today are increasingly making use of the newest technologies designed for grid management, and contemporary energy storage techniques. People have noticed that solar energy is reaching utility-scale levels in terms of usability. And energy firms are now looking to new storage options in order to deal with a rising peak demand curve – the need for back-up power is rapidly increasing. While the reduction in lithium prices is making conventional lithium-ion batteries an increasingly viable option to store energy, alternatives to this incumbent technology are also appearing.

In the past few years, energy storage firms have been increasingly dedicating their time and effort to come up with latest e-mobility and solar energy applications. This reflects a paradigm shift, as the tech advances, providing an intersection that has not always been present. Energy storage companies are integrating with e-mobility and solar companies. With climate change and fossil fuel costs rising, such energy storage trends are bound to mount in the coming years.

As a growing number of states, utilities, and corporations make storage a cornerstone of energy planning, safety being at the forefront of industry leaders’ minds. Since new technologies are required to meet more-stringent regulations, the world may see additional safety-focused complementary technologies come to the energy storage market. With battery technology innovation, new applications of alternative technologies are also going to emerge in tandem.

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