Ready and waiting: Opportunities for energy storage

As the UK works passionately towards its net-zero goals, the importance of energy storage becomes clear. This detailed report, titled “Opportunities for Energy Storage,” is a collaboration between DLA Piper and Cornwall Insight. It explores the potential and challenges of energy storage in a straightforward manner. With more renewable energy being used, the UK must deal with the challenge of inconsistent energy generation. Energy storage can help solve this problem by bridging the gap between energy supply and demand. This ensures energy security and makes the power grid more flexible.

The report showcases the quick growth of energy storage projects, especially in the UK and the US. Right now, most of the electricity storage in the UK comes from Lithium-Ion batteries and pumped hydropower. These storage methods create revenue from activities like selling power, balancing energy use, and responding to grid changes. As the market changes, there's a move towards using longer-lasting storage solutions that offer even more flexibility and efficiency.

However, this journey has its challenges. From accessing the market and optimizing strategies to connecting to the power grid and managing the supply chain, the report gives a full view of the energy storage sector. It also highlights the idea of combining energy storage with renewable energy generation. This concept suggests a future where these combined assets can efficiently handle grid delays and other problems.

Read the report to learn about the details of the UK‘s energy storage market, its impact on renewable energy, and the path to a sustainable future.