The consumption of electricity has to be perfectly matched with generation of electricity at any moment in time. This balance is necessary in any electricity grid to maintain a stable and safe electricity supply. Energy, storage can help deal with fluctuations in demand and generation by allowing excess electricity to be I saved l for periods of higher electricity demand. Energy storage can help to ensure energy security, a well-functioning internal market and helping to bring more carbon-cutting renewables online. By using more energy storage, any nation can decrease its energy imports, improve the efficiency of the energy system and keep prices low by better integrating variable renewable energy sources.
Energy storage can contribute to a better use of renewable energy in the electricity system since it can store energy produced when the conditions for renewable energy are good but demand may be low. Importance of energy storage is depicted in Fig. This more variable power generation pattern has significantly increased the need for flexibility in the electricity grid. Storage could help balance electricity supply and demand over several different time frames, from fast storage in seconds or minutes to longer storage over days. The growing need for flexibility in the energy system would benefit from new storage solutions and innovation. Some emerging storage technologies, including batteries and hydrogen, are gradually becoming competitive.
