Energy storage will dramatically transform the way the world
uses energy in the near future.
As well as offering more flexible, reliable and efficient energy use for consumers, storage is also an effective way to smooth out the supply of variable forms of renewable energy such as solar and wind power. It gives consumers greater control of their power use and enables them to take full advantage of the solar energy they generate themselves.
Battery storage safety FAQs
Get expert answers to the most frequently asked questions about the safety considerations involved in battery storage.
Australian Energy Storage Roadmap
The Clean Energy Council developed the Australian Energy Storage Roadmap to help this exciting emerging technology to reach its potential.
Learn more about the roadmap and join the Energy Storage Network on the roadmap page.
The state of energy storage in Australia
Energy storage technologies currently on offer vary greatly, from household battery systems to large-scale pumped hydro storage where water is pumped up a hill to a reservoir to be used when needed. Other bulk technologies are also being explored, including compressed air energy storage. Each has its own advantages and shortcomings.
Hard data on energy storage installed in Australia is elusive. Some estimates for 2014 put the numbers as low as 500 gridconnected systems and 4 to 5 MW of off-grid storage, but these figures are disputed by some in the industry.
The future of energy storage in Australia
A 2014 report by investment bank UBS using analysis by Navigant Research predicts a 50-fold increase for global energy storage technology by 2020.
Modelling released by the Clean Energy Council in 2013 predicts a 3000 megawatt (MW) market for energy storage in Australia by 2030, without targeted government incentives or support of any kind.
The biggest factor influencing the adoption of storage technology is cost. Navigant Research expects lithium ion batteries to remain the dominant form of storage for the next decade. Electric car maker Tesla estimates that the construction of its US$5 billion Gigafactory in the United States will reduce the cost of its lithium ion battery packs more than 30 per cent by 2017. Cost reductions such as these will help to make energy storage technology vastly more appealing to the budget-conscious consumer.
Although the future opportunities provided by energy storage in Australia are substantial, the established markets for storage technology are currently in the United States, Europe and some parts of Asia. This will allow the Australian industry and the nation’s policymakers to learn from the early experiences with energy storage in these areas.
- Clean Energy Australia Report 2014