Excess power generated from renewable sources that are seasonal in nature, stored in the form of hydrogen, derived from breaking water, has the potential to become cost-effective long-term electricity storage system.
This is one of the key findings of DNV GL’s latest research paper ‘The promise of seasonal storage’, which explores the viability of balancing yearly cycles in electricity demand and renewable energy generation with long-term storage technology.
Proportion of electricity demand in total energy demand has been rising, for example through rising numbers of electric vehicles and in buildings, for heating and cooling. This rise in demand is largely being met by variable renewables generation, which increases the need for long-term storage solutions.
Based on a case study modelling electricity generation and demand for 58 different climate years, DNV GL’s researchers gained insight into the need and viability for the use of seasonal storage technology for electricity.
“When assessing the use and business cases for this long-term storage technology, DNV GL’s researchers concluded that the need for additional storage solutions is lower than expected and can be largely covered with available short-term storage technology such as battery storage systems,” it said in a recent report.
The growing number of electric vehicles in transport system will provide most of the needed short-term energy storage to balance renewable energy in the power grid, it inferred.
Rise of synthetic fuels like hydrogen can provide a critical stepping-stone for the use of seasonal storage applications.