More efficient way to store energy than batteries

Why is battery storage so important?

Electrification, integrating renewables and making grids more reliable are all things the world needs. However, these can’t happen without an increase in energy storage. Battery storage in the power sector was the fastest growing energy technology commercially available in 2023 according to the IEA.

Why is electricity storage important?

With increasing power outages, rising energy costs, and a growing push toward renewable energy, storing electricity efficiently helps you maintain control, reduce your environmental footprint, and enjoy reliable power. Here’s a simple infographic summarizing how electricity storage technologies work and their critical role in our energy system:

Is lithium ion a good battery storage option?

In fact, lithium-ion makes up most utility-scale battery storage, boasting high efficiency (around 80-92%), quick response times, and prices that have plummeted nearly 90% over ten years. At Compass Energy Storage, we proudly leverage lithium-ion technology in our 250-megawatt clean energy storage project in San Juan Capistrano.

How can energy storage be used for long-term energy management?

Finally, we have seasonal storage, which stores energy over weeks or months. Technologies like pumped hydro, compressed air, and hydrogen storage are promising in this area. Although their efficiency may be lower, their massive storage potential makes them valuable for long-term energy management.