According to a survey report released by the Long-term Energy Storage Council a few days ago, by 2040, the deployment scale of long-term energy storage systems should be expanded to about 400 times the current level, so that a global clean energy system with the best cost can be established.

　　The report found that in order to be economically viable, the cost of long-term energy storage systems must be reduced by 60%. From 2022 to 2040, US$1.5 trillion to US$3 trillion will need to be invested globally.

　　By 2040, the widespread deployment of long-term energy storage systems around the world can provide up to 140TWh of energy storage capacity and provide 10% of the world's electricity. This will save 15 to 23 billion tons of carbon dioxide, equivalent to 10% of today's electricity sector emissions. To 15%.

　　At the United Nations Climate Change Summit in Glasgow, Scotland earlier this month, executives from 25 energy and technology companies established the long-term Energy Storage Council. The council aims to publicize and educate enterprises, governments and public utility companies on long-term energy storage technology, and formulate incentive policies to support the large-scale deployment of long-term energy storage systems. Long-term energy storage systems are usually defined as energy storage systems with a continuous discharge time of at least 4 hours. The council pointed out that this technology can store and distribute energy when the sun or wind is insufficient.

　　Eric Dresselhuys, CEO of flow battery manufacturer ESS and founding member of the Long-term Energy Storage Council, said, “We think this is a real and feasible thing. Long-term energy storage is currently an available and effective solution that can help Realize the energy transition."

　　Other founding members of the council include energy storage and energy developers such as British Petroleum, Siemens Energy, Highview Power, Form Energy, etc.

　　The U.S. Department of Energy announced an ambitious plan in July this year to reduce the cost of energy storage technology by 90% over the next ten years with the support of government-funded research and pilot programs. As part of the goal of achieving 100% renewable energy by 2050, California’s mid-term goal is to deploy nearly 1GW of long-term energy storage projects by 2026. Although the construction of many large-scale energy storage projects has been initiated in the past year, most of them are lithium-ion battery energy storage systems with a short duration of discharge.

　　According to this survey report prepared by the Long-term Energy Storage Council in cooperation with McKinsey & Company, the deployment of long-term energy storage systems may accelerate rapidly in the next few years. Once renewable energy generation reaches 60% to 70% of the market share of the power system, the long-term energy storage system will be catalyzed as the "lowest cost flexible solution."

　　This discovery has been widely recognized by energy experts; a study published in the journal Nature Energy earlier this year found that the energy capacity cost of long-term energy storage solutions must be reduced to $10/kWh in order to completely replace nuclear power; and must reach 1 USD/kWh to replace natural gas power plants.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect replacement for lead-acid batteries, and they are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

　　Solar power generation system with lithium battery energy storage system is a very promising clean energy.