DNV research: overcoming barriers and risks in energy storage
Energy storage systems play a crucial role in the energy transition. According to DNV's latest research report "Energy industry Insights: closing the Energy Storage Gap" a whopping 89% of senior energy sector executives recognize that rapid expansion of energy storage is essential to achieving their country's net-zero goals. However, this expansion is hampered by several major barriers that slow progress toward cleaner, more resilient and efficient energy systems.
Insights from 400+ senior executives from the energy sector
The report includes a specialized survey of more than 400 senior executives involved in energy storage systems, revealing current trends in energy storage. Among other things, it highlights priorities and investments, opportunities, barriers and risks, and it separates short-term trends from viable long-term solutions.
All core sectors surveyed by DNV - power generation, renewables, oil and gas, and industrial energy consumers - expect increased involvement in energy storage over the next three years. Currently, 40% of the companies are actively exploring and/or testing energy storage options. Only 15% currently owns and 14% currently operates large-scale energy storage. This is expected to increase to 23% and 22% over the next three years, respectively.
Expected rollout technologies over the next three years
It is interesting to also look specifically at senior executives' expectations for the rollout of the various technologies over the next three years. While number one should come as no surprise, it is good to see that number two is an already older technology, but certainly does not make it any less relevant to the energy transition.
An urgent need to remove barriers
Despite the undeniable potential impact and benefits of energy storage, several obstacles hinder faster adoption. Regulations and electricity market structures still provide insufficient support and rewards for energy storage investors and service providers. In some regions, lengthy approval and integration processes delay the implementation of new storage systems, with grid connection waiting times of more than 10 years in some markets.
More coordination and cooperation is needed in the short term to address the biggest obstacles and ensure that we make progress without delay.
Contact: Koen Broess, Segment Leader Energy Storage & EVs, DNV
