As the energy density of batteries continues to increase even as costs keep declining, the stationary energy storage market is booming, with investment growing by over 7x over the last few years – from $5 billion in 2020 to over $35 billion in 2023 – and with battery installations tripling just last year alone.
While an influx of storage is certainly needed to integrate the vast amount of renewables we need to fully decarbonize the grid, the storage we are adding to the grid is not always or even usually reducing overall carbon emissions. In fact, too often new batteries are resulting in positive net new emissions – an outcome almost no one wants.
In this episode, Chad Reed chats with Jacob Mansfield and Emma Konet of Tierra Climate and Adam Reeve of REsurety to learn more about the efforts of the Energy Storage Solutions Consortium (ESSC), which seeks to align the economic incentives of the storage market with truly accelerating grid decarbonization.
Links:
Energy Storage Solutions Consortium (ESSC)
Charging Towards Zero: Harnessing Batteries and Carbon Contracts to Accelerate Grid Decarbonization
Decarbonization: Stocks and flows, abundance and scarcity, net zero
Episode recorded February 14, 2024
Email your feedback to Chad, Gil, Hilary, and Guy at climatepositive@hasi.com.
