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Battery storage for renewables feasible, but faces financial challenges
['Michael Lucibella', 'University College London']
Tech Xplore - electronic gadgets, technology advances and research news
The giant batteries, which are called Battery Energy Storage Systems (BESS), are an emerging part of the global energy market.
Battery Energy Storage Systems are vital to updating the system—making the best use of renewables, while enhancing system security.
Presently, the EU only has about 25 gigawatts of total battery storage, of which the majority is dispersed among individual homes, with only 5 gigawatts of utility-scale battery storage across the bloc.
They have historically dominated the revenues for many battery storage projects, as much as 67%.
These provide some stable revenue for energy storage systems, especially when a company is first looking to invest in such energy systems.
['batteries'
'systems'
'ucl'
'markets'
'energy'
'renewables'
'challenges'
'market'
'battery'
'revenue'
'feasible'
'financial'
'storage'
'faces']