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Long-duration energy storage has attracted more than $58B in global commitments since 2019: WoodMac

Stephen Singer of UtilityDive reports on a Wood Mackenize study about investments in energy storage.

The C3 Take
  • Long duration energy storage (LDES) is critical to solving the intermittency issue of renewable energy, providing power when the sun isn’t shining and the wind isn’t blowing.
  • According to the report from Wood Mackenzie, pumped storage for hydropower received the majority of new investments and will continue to do so through 2030.
  • The United States and China led the world in LDES investments while Europe lingered.
  • Private sector leadership and investments are critical to meeting our environmental objectives.

“Emerging LDES technologies face an ‘ever-growing list’ of technical, financial and business barriers to gain broader deployment, reduce costs and provide financial value against combined cycle gas turbines paired with carbon capture and storage, modular nuclear reactors or green hydrogen fueled power plants.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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