Variable renewable energy (VRE) generation sources like solar and wind are expected to increasingly move toward being the dominant source of electricity globally by mid-century.
With the variability of intermittent cycles of electricity generation provided by these sources, energy storage is needed to ensure a stable, balanced supply.
Demand response programs, distributed home batteries, vehicle-to-grid storage, community-level batteries, and many other technologies will play a role in balancing the variable renewables-dominated grid.
Along with these technologies is the rise in demand for long-duration energy storage (LDES), which typically can store and dispatch electricity for six hours or more.
A report from IDTechEx modeled growth with LDES, projecting that there may be a $223 billion global market by 2044. The report said this market growth will regionally happen at different rates.
