Investment in battery storage is an important, but far from straightforward part of the renewable energy transition.
A key part of ensuring the world reaches net zero by 2050 is investing in electric utilities’ transition from fossil fuel-based power generation and the integration of renewable energy sources into national grids. One of the biggest challenges for these low-carbon networks is to turn intermittent power generation into consistent electricity supply.
Battery energy storage systems (BESSs) store energy produced by renewables, like solar and wind, and allow electric utilities to deploy those stores as and when needed.
“Battery storage has a key role to play if the world is to establish a truly sustainable energy system – investing only in the upscaling of intermittent technologies won’t be enough,” Richard Lum, Co-Chief Investment Officer at energy infrastructure-focused investment manager Victory Hill Capital Advisors, tells ESG Investor.
Opening-up energy access to cater for increasing demand and population growth