Assessing the state of energy storage

On behalf of the Australian Renewable Energy Agency (ARENA), AECOM has prepared the Energy Storage Study — a report that assesses the state of energy storage technology today and how the technology may evolve and grow in the future. It also includes recommendations to ARENA for funding and knowledge-sharing priorities.

The report acknowledges that reliable, cost-effective storage has a vital role to play in smoothing out energy supply and allowing more renewable energy to enter Australia’s electricity grids. The sector is undergoing rapid growth and we are witnessing significant cost reductions and the development of new business models.

Based on the report, ARENA has identified a number of priority areas for further investment in the energy storage sector to overcome barriers and capture the potential of energy storage to support higher penetrations of renewable energy and provide other benefits to the electricity network and consumers.

The report can be accessed at http://arena.gov.au/resources/.