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This will just mean that even more renewables will be built up the point where it is economically feasible to store such energy in batteries, heat, hydrogen, sy
by oezi 4y ago
This will just mean that even more renewables will be built up the point where it is economically feasible to store such energy in batteries, heat, hydrogen, synfuels etc. Yes, many of these processes are inefficient, but if you consider wind already being the cheapest mode of electricity generation then after another 50% price decline due to progress in technology we might have electricity for lots of inefficient storage mechanisms.
- Gareth321 4y agoStorage is of course the way to overcome grid volatility but so far there are few economical options. As I mentioned, few studies have been conducted on this volatility component and cost, but my understanding is that current storage options are uneconomical relative to nuclear, and especially relative to coal and LNG. Hydro storage is ~70% efficient but it's obviously only feasible in mountainous regions. It's actually cheaper to significantly overshoot renewable capacity to compensate for slow days, but if we're now building 2-3x peak capacity then the cost equation shifts considerably.