2023-07-25 29 英文报告下载
In December 2015, almost all global nations signed up to the Paris Agreement,1 a legally binding treaty to limit global warming to 2o C relative to pre-industrial levels, with significant efforts made to limit the temperature increase to only 1.5o C. To meet the Paris Agreement, in June 2019 the UK government committed to reaching net zero by 2050,2 whereby the amount of greenhouse gas released into the atmosphere is lower than, or equal to, the amount captured or removed. This net zero transition will require action across the UK economy, with the power sector targeting net zero, subject to security of supply, by 2035.As the UK transitions towards net zero, the increasing share of the energy generation mix coming from renewables is resulting in greater intermittency of generation, leading to a growing system need for flexible dispatch solutions.
With a range of different energy storage technologies that are, or could be, used in the UK to provide both short and long-term system flexibility, energy storage is set to play a central role in the energy system. This shift is reflected in the significant recent growth in the development and investment into energy storage projects globally, with some of the most rapid growth taking place in the UK and the US. This report provides a background to energy storage and considers the main revenue streams and routes to market before going on to set out the challenges for electricity storage assets in Great Britain (GB) and concluding with the future opportunities and key considerations for investors. The focus is on the GB electricity market, with case studies included drawing insight from Ireland and Australia, two other island nations that will require significant energy storage and flexible dispatch solutions.