Foreign countries promote the development of energy storage industry

Why is energy storage important?

Continued expansion of intermittent renewable energy, ESG-focused investments, the growing versatility of storage technologies to provide grid and customer services, and declining costs for key components like lithium-ion batteries all played a significant role in driving the investment and development of energy storage.

Which countries are considering battery storage for grid stability?

The Central African Republic and Gambia are also considering battery storage for grid stability . ESS policies will create an avenue for the use of ESS in the grid for power stability in emerging economies. 5.2. Environmental protection

Why do emerging countries need ESS policy?

Climate change mitigation and energy efficiency are some of the main reasons considered for ESS policy by countries that have adopted them. Emerging economies need these policies for the same reasons, but also as a way to increase the power generation capacity and create opportunities in the energy sector .

Why should countries invest in ESS?

These countries have the expertise and take advantage of the resources they have by investing heavily in ESS sector and renewable energy sources. The economy of a country plays a major role in the adoption of ESS. It is not cheap and having a good economy means having extra money to invest on every aspect of ESS.

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.

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.