The exponential growth of renewable sources is promising since most regions are moving towards that to deal with climate change. It shows that it is possible to have a future with 100% no-emission power sources. However, as the supply increases, the challenge is the lack of energy storage mechanisms.
The nature of renewable energy demands that one produces as much as possible whenever an opportunity presents itself. For instance, one can only make solar energy during the day, whereas creating wind energy relies on unpredictable currents. Therefore, there is a need to store excess energy for use when production is impossible.
Currently, people are settling for water pumping as a way of storing energy all over the world. Globally, its capacity stands at 160 GW. Nevertheless, there is an increase in the inclination towards lithium-ion batteries, which internationally has a capacity of 4 GW. However, the forecast shows that it will increase to 220 GW by 2040 thanks to the manufacturing costs decreasing as time goes by.
The versatility of storage systems is impressive. They can come in handy in optimizing self-consumption, controlling voltage, serving as power systems’ backup, shifting excess power to different areas, and providing off-grid energy supply.
Going by the comments of Germany-based Fraunhofer Institute for Solar Energy Storage Head of the Department of Applied Storage Systems Johannes Wullmer, there are three pillars of storage systems if one wants them to succeed. First, a proper legal framework and only significant legislation and regulation can facilitate its development. Second, innovation and research that helps in sustaining the systems since they need stability. Finally, quality assurance systems for the value of money.
As for the Central American level, regulations in various market schemes will determine the level of competition. However, the rules should not hurt the existing traditional processes. Equally important, they need not be against even newer technologies. In short, they should acknowledge the trending solutions at the moment and, at the same time, be ready for the new ones that may arise in the future. That is possible through a progressive mindset, being neutral as far as regulations and technologies are concerned. Finally, the region should keep in mind the role that energy storage can play in ensuring that energy is affordable to the consumers.
With the increased supply of renewable energy, homes, the transport sector, and industries will not have to use fossil and combustion fuels hence a suitable climate remedy. In addition to being clean, the power system will also be relatively cheap. That’s something every part of the world should be working towards and doing everything in their power to make it successful.