Energy storage is understood as an essential technology for the decarbonization of the economy by reducing the use of fossil fuels and enabling the massive integration of renewable generation.
In reference to this, the draft of the National Integrated Energy and Climate Plan (PNIEC) projects that renewable electricity generation will reach 74% by 2030. To achieve this, the plan envisions the addition of 57 GW of new renewable capacity (of which around 37 GW will be photovoltaic) and 6 GW of storage, including battery and pumped storage facilities. The integration of energy storage will minimize renewable energy curtailment, allowing excess production to be used as backup when renewable sources are unavailable.
Energy storage has the ability to provide key services for system operation in a scenario of high penetration of variable renewable energies, such as photovoltaic solar and wind power. It enhances system flexibility through frequency-power functionality, modulates the demand curve, and contributes to quality and security by enabling voltage control. Additionally, energy storage, through technologies such as batteries, allows electricity access for more isolated populations without the need for extensive wiring and infrastructure.
According to data from the International Energy Agency (IEA), globally, energy storage nearly doubled from 2017 to 2018, with an installed storage capacity currently at 3 GW, with South Korea leading the way due to its favorable policies.
Bloomberg New Energy Finance (BNEF) estimates that energy storage will grow exponentially in the coming years, driven by the continuous cost reduction of batteries, which have already decreased by 85% from 2010 to 2018. This trend is expected to continue, with a further 50% reduction by 2040, spurred by electric mobility and utility-scale applications. According to this international analyst, the combination of storage and renewables, particularly photovoltaic, has become a technological driver, with utility-scale batteries expected to make up the majority of energy storage deployment by 2040. Other storage technologies include chemical storage, gaseous agents such as hydrogen, electrochemical storage with conventional and flow batteries, electrical storage using superconductors and capacitors, mechanical storage with flywheels, compressed air or pumped hydro, and thermal storage.
UNEF believes in the importance of energy storage and the need for regulatory adaptation to eliminate administrative and legislative barriers, promoting the use of these technologies. Through UNEF’s creation of an energy storage strategy, the aim is to:
