What is a hybrid energy storage system?

The storage system is comprised of individual components that are already in regular production by the project partners. The HyFlow project partners have also developed advanced and more adaptable energy management systems for the new hybrid energy storage system.

What are the advantages of hybridisation?

Hybridisation has created an energy storage system that combines the advantages of both systems. Furthermore, in the project, the charging time of the redox flow battery has been reduced by 60 per cent.

Should storage projects be funded?

One large missing piece has been funding. Storage projects are risky investments: high costs, uncertain returns, and a limited track record. Only smart, large-scale, low-cost financing can lower those risks and clear the way for a clean future.

Are energy storage technologies the key to reducing energy costs?

Energy storage technologies are also the key to lowering energy costs and integrating more renewable power into our grids, fast. If we can get this right, we can hold on to ever-rising quantities of renewable energy we are already harnessing – from our skies, our seas, and the earth itself. The gap to fill is very wide indeed.

Why do energy grids need more dynamic storage systems?

State-of-the-art energy grids rely on renewable energies such as wind and solar power. However, the systems must deal with fluctuations both in power generation and in consumption. The grids therefore urgently require more dynamic storage systems in order to absorb the energy peaks and manage the increased demand for green power generation.

How many MW of battery storage is being backed by private investors?

With technical assistance provided under this project, national grid codes and other essential policies were created, ultimately leading to 455 MW of battery storage being backed by private investors – to the tune of approximately $605 million.