Background: An assessment of reduction in greenhouse gas emissions in 2030 associated with a 35% renewable energy and efficiency target. Increasing renewable energy deployment, global renewable electricity generation is projected to grow by almost 45% by 2020. Smart cities, Smart grids and increasing need for local flexibility drive demand for micro-grids further increasing the demand for renewable energy. Renewables Power (Wind, PV) integration threatens grid stability. Fast-growing energy storage industry driven by a large increase in demand from renewable energy. As the penetration of renewable energy increases, storage aids the power grid in more. It is expected that $130 Bn Energy Storage Market Deployments until 2030. Recently, energy storage devices have paved new horizons for powering a plethora of devices, ranging from portable electronics to electric vehicles. Improving energy storage will have a dramatic effect on the lives of many people throughout the globe.
The energy storage industry is coming of age rapidly in the USA, Europe, Asia, Africa, and Australia. Australia to deploy both standalone and solar-plus-storage solutions; India's ambitions across manufacturing and electrification for the masses; Europe's continent-wide shift to clean energy; experiences of working with lithium batteries in Africa, there's all this and plenty more to come. Hawaii has been a prolific installer of both rooftop solar and latterly batteries for energy storage and one of the US state's smaller islands looks set to get its first-ever grid-scale solar-plus-storage system. The US has combined 4.88MW of solar PV with a 3MW / 15MWh battery energy storage system. India became home to the world's first-ever thermal battery plant
It can be envisioned that energy storage technology alone cannot provide effective solutions for meeting global energy needs but a combination of energy storage, harvesting, management, and conversion technologies would be the key to success.
For instance, a futuristic approach involving a coherent development of rechargeable batteries, solar energy and smart grids (grid storage) could offer a promising way forward towards establishing superior energy storage systems.
Evidently, there is a critical need to assess current technologies, identify key challenges and innovate superior processes that could potentially outperform the existing ones in providing effective solutions.
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