To achieve decarbonization, significant efforts must be made to reduce emissions across all sectors. The power sector, which accounts for roughly one-third of global emissions, is central to global decarbonization and will need to achieve net-zero emissions by 2040.
Long duration energy storage can cost-effectively store electricity from wind, solar and other renewable sources and then make it available when needed. (Lithium-ion batteries offer an alternate solution but become too expensive for storage durations beyond eight hours.).
The LDES Council was established by 25 founder members including Alfa Laval, BP, Breakthrough Energy Ventures, ESS Inc and Siemens Energy. On November 23, 2021, the LDES Council will publish its first annual report on the need for long duration energy storage in order to reach net-zero carbon emissions.
"We are very pleased to be part of this council which will facilitate the transition towards more sustainable energy supply," says Thomas Møller, President of the Energy Division, Alfa Laval. "We are contributing our expertise but also our heat exchanger technology which plays an important role in developing ideas into commercially viable alternatives. The coming report shows that LDES will make a big difference on the route towards decarbonization."
The LDES Council envisions approximately 10 percent of all energy being stored in long duration storage technologies, requiring 85-140 TWh of deployed capacity, equivalent to the yearly electricity production of around 14 000 wind turbines.
About the LDES Council
The LDES Council is a global, CEO-led body comprising technology providers, equipment providers, renewable energy companies, utilities, grid operators, investors, and end-consumers. It strives to accelerate decarbonization of the energy system at lowest cost to society by driving innovation, commercialization and deployment of long duration energy storage. The LDES Council provides fact-based guidance and information to governments, industry and broader society, drawing from the experience of its members which include leading energy companies, technology providers, investors and end-users.