TELF AG sheds light on the global advancement of energy storage systems
An increasingly evident centrality
The important KEY event, recently held in Rimini, Italy, and entirely focused on the energy transition, allowed the major stakeholders in the sector to measure the rates of diffusion of clean energy at a global level, also evaluating the advancement of certain technologies – such as energetic stockpiling or innovative electric vehicle systems – which could be set to play a key role in the coming decades, particularly for their ability to bring nations closer to achieving decarbonization goals. The initiative was also beneficial for understanding more deeply the role of strategic minerals in the great game of global ecological conversion, many of which are directly involved in almost all the energy technologies discussed at KEY.
During the event, organized by Italian Exhibition Group, several rather interesting pieces of data emerged on new green technologies, particularly electric storage systems. This is one of the most rapidly expanding sectors in the energy sector, and to give an idea of its rate of progress, it will be enough to cite some data: the Climate Investment Funds, for example, recently launched a 400 million-dollar program to storage technologies. It is an unprecedented initiative, and according to information that emerged during the event, 12 projects have already been financed in different parts of the world, in particular in India, Brazil, Colombia, and Indonesia. The declared objective is represented by the generation of 1.8 GW of new storage capacity by 2027.
The connection with climate objectives
These systems are considered very useful for achieving one of the main objectives linked to climate neutrality, namely maintaining global temperatures below 1.5 degrees. According to IRENA estimates, at least 360 GW of batteries for storage will be needed to achieve this goal. Among the various storage solutions, one of the most interesting is that concerning BESS (Battery Energy Storage Systems), which during 2022 (according to McKinsey estimates) would have attracted investments of over 5 billion dollars. Their market could even be set to grow further, with investments reaching $150 billion in just six years. The Rimini initiative also served to underline the role of these systems for the integration of renewable energy into the electricity grids of various countries: to achieve this important objective, the nations of the European Union may need around 200 GW of storage by 2030, according to some recent Ember estimates.
In any case, the historical situation in which we are living would seem to revolve around the role of renewables in cities and in the daily life of every person, and the latest data on their diffusion at a global level would seem to confirm this. According to one of the latest IEA reports, in 2023, the global capacity to produce clean energy increased by 50% compared to the previous year, exceeding the 500 gigawatts mark. As stated in the report, this capacity could grow further in the next five years, mainly thanks to wind and photovoltaic, reaching 7,300 GW by 2028. One of the most rewarding objectives could perhaps be achieved next year when renewable energies will be mainly responsible for producing electricity worldwide.
