IRENA Launch Event - Battery energy storage: Facilitating the next phase of the energy transition
Time and Date: 12:10-12:40, Thursday, 5 October, 2017
Venue: Neptune, 4th Floor, Plaza, Hotel Chinzanso Tokyo
October 5, during ICEF 2017 annual meeting, the International Renewable Energy Agency (IRENA) launched (for the first time in the world) its latest report on “Electricity storage and renewable: Costs and markets to 2030”.
Dr. Dolf Gielen, director of the IRENA Innovation and Technology Centre, gave opening remarks in which he emphasized the importance of technology on electricity storage. Mr. Michael Taylor, a senior analyst at IRENA, presented the latest developments in the costs and performance of battery electricity storage technologies and their market growth to 2030. The report indicated the installed energy cost of different energy storage technologies would be reduced by 50-66% by 2030.
Figure 1: Potential cost evolution
Source: Michael Taylor, “Electricity storage: Costs and markets to 2030”, October 2017
The report provides a comprehensive overview of the major energy storage technologies, with analysis of currently commercially available technologies and those emerging electricity storage technologies that are only in their infancy of deployment. The report also highlights the latest trends in lithium-ion, “flow” and high-temperature NaS and other energy storage technologies and addresses the cost reductions to be expected.
In discussion, participants and the presenter exchanged on the issues of introducing renewable energy. The competiveness among renewable energy was raised as an emerging issue in the context of limitations within the existing electricity grids. Regarding the applicability of energy storage technologies for the shipping and aviation sector, the presenter pointed out that further innovations were required to fulfill the these sector needs.
Figure 2: Side event at the ICEF 2017 annual meeting