Long Duration Energy Storage Council Report Assembles Toolbox of Policy Options for Accelerating Flexibility Required to Meet Net-Zero Power
New research report reviews policy options to help society overcome obstacles to widespread deployment of LDES
BRUSSELS – The Long Duration Energy Storage Council (“The Council”) released a report today offering an action plan to achieve net-zero emissions. The report, “The journey to net-zero: an action plan to unlock a secure, carbon-free power system” was authored with Council members and follows closely on the release of the report, “A path towards full grid decarbonization with 24/7 clean power purchase agreements” (PPAs) last month. The new report is directed at policy and regulatory stakeholders and intended to serve as an overview of key considerations and options for designing and implementing energy transition policies and regulatory frameworks.
The report is the first of its kind in providing a holistic solution framework for catalyzing the LDES sector. In order for LDES to be available to support decarbonization of energy systems in the 2030s, signals need to be created today to spur scale-up, investment, and adoption. Policy and regulation have a key role to play in enabling the path to net-zero, which is increasingly not just reducing carbon emissions, but also about improving energy security through greater use of local and regional renewable resources, and protecting consumers from excessive energy costs. LDES Technologies can help to derisk the energy transition by providing a source of flexibility in a low-carbon energy system.
Authored by members of the LDES Council, the report:
Identifies core obstacles for the LDES industry to overcome, especially around storage definitions, market access, and viability of early projects
Lays out key considerations for policy and regulatory stakeholders in assisting the industry in overcoming the aforementioned barriers
Details 20 potential mechanisms grouped into three different types of tools, depending on their ability to send long-term signals, improve early revenues, or otherwise support or enable the sector
Offers a qualitative assessment of the mechanisms, considering ability to improve customer project viability, ease of implementation, and long-term effectiveness
Provides an illustration of how different mechanisms could be applied to enhance early customer projects, whilst balancing that support with the dividend to society
The report concludes that there are a wide variety of well-performing mechanisms available, with precedent supporting other clean energy technologies such as solar and wind.
“As we know, the energy transition is increasingly about the dual imperative of decarbonization and energy security, and achieving net-zero will require new sources of flexibility as well as an action plan to deliver the energy transition and to ensure a sustainable and secure energy future for all,” said LDES Council Executive Director Julia Souder. “Our research showcases that low-carbon flexibility can come from a variety of sources, including, but not limited to long duration energy storage technologies. We look forward to working to create a level playing field. The time to act is now to ensure solutions such as LDES are available to support net-zero ambitions in the 2030s and beyond.”
A webinar on the report will be held on Wednesday, June 29, with two times available to register:
APAC/EMEA-friendly session, 9:00-10:00 AM CET, Wed 29th June
Americas/EMEA-friendly session, 17:00-18:00 PM CET, Wed 29th June
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About the LDES Council
The LDES Council is a global, executive-led non-profit membership organization, comprising technology providers, equipment providers, renewable energy companies, utilities, grid operators, investors, and end-consumers. It strives to accelerate decarbonization of the energy system at lowest cost to society by driving innovation, commercialization and deployment of long duration energy storage. The LDES Council provides fact-based guidance and information to governments, industry and broader society, drawing from the experience of its members which include leading energy companies, technology providers, investors and end-users. To learn more: www.ldescouncil.com.
Media Contact:
Larissa Fair, Director of Communications, North America