Industrial policy and technology route for energy storage

What are energy storage policies?

These policies are mostly concentrated around battery storage system, which is considered to be the fastest growing energy storage technology due to its efficiency, flexibility and rapidly decreasing cost. ESS policies are primarily found in regions with highly developed economies, that have advanced knowledge and expertise in the sector.

What are energy storage policy tools?

In general, policies are designed to establish boundaries and provide regulatory guidelines. According to the Energy Storage Association (ESA), the policy tools fall under three categories which are value, access and competition .

What types of energy storage policies have been adopted?

Around 15 states have adopted some form of energy storage policy, including procurement targets, regulatory adaptation, demonstration programs, financial incentives, and/or consumer protections. Several states have also required that utility resource plans include energy storage.

How do ESS policies promote energy storage?

ESS policies mostly promote energy storage by providing incentives, soft loans, targets and a level playing field. Nevertheless, a relatively small number of countries around the world have implemented the ESS policies.

How does ESS policy affect transport storage?

The International Energy Agency (IEA) estimates that in the first quarter of 2020, 30% of the global electricity supply was provided by renewable energy . ESS policy has made a positive impact on transport storage by providing alternatives to fossil fuels such as battery, super-capacitor and fuel cells.

How ESS policy supports RD&D of transport storage?

ESS policy has supported the RD&D of transport storage and can be attributed to the rampant development of EV sector. With supportive policies, battery powered vehicles will be competing with conventional combustion powered vehicles in terms of cost, durability and reliability .