Since 2019, the cost of wind and solar electricity production has been lower than that from fossil fuels, and costs are projected to continue falling well into the next decade. But for renewable energy to truly dominate the electricity market, it needs to be cheap and reliable, even when the sun is not shining and the wind is not blowing. That means the battery market needs to grow, too.
So far, short-duration lithium batteries have dominated the market of grid-scale battery storage, but a recent report from the U.S. National Renewable Energy Laboratory has highlighted the importance of developing longer-duration and lower cost storage options as a key to greater integration of renewable energy into the national grid.
So what types of long-duration batteries are emerging as contenders for widespread, gridscale storage? And what needs to happen to incorporate these batteries into the grid? Climate Now sat down with two leaders in the emerging grid storage market: Jeff Chapin, co-founder of Haven Energy, and Antonio Baclig, founder of Inlyte Energy, to get a read on the state and future of the quickly growing battery storage industry.
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