Area of Expertise
Security of Supply
Fossil fuel power plants are currently used as backup when renewables cannot meet energy demand. However, this approach is not sustainable as it leads to significant carbon emissions and dependency on gas imports, which causes energy insecurity and high and volatile electricity prices.
To address this issue, Europe must look towards clean technologies that provide the flexibility required to ensure the security of supply. Renewable energy can be stored and shifted from periods of peak production to peak demand through wide array of energy storage technologies.
Ensuring Energy Security with Renewable Energy and Energy Storage
Energy storage provides the flexibility that renewables require to ensure Europe meets its decarbonisation targets. By storing excess energy during periods of high production and releasing it during periods of high demand, energy storage helps to balance the grid and ensure a reliable energy supply. This strengthens energy resilience and reduces the dependency on fossil fuels as backup power sources.
In addition to enhancing energy security, energy storage also has the potential to lower energy prices. By maximising the use of renewable energy and minimising the reliance on fossil fuels, energy storage can help stabilise electricity prices, making them more predictable and affordable for consumers and businesses alike.