Battery storage: a ‘quiet revolution’ in the energy industry

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Financial Times 12h ago

Battery storage: a ‘quiet revolution’ in the energy industry - Financial Times

Quick Summary:

The IEA has highlighted problems such as batteries having to pay electricity network fees for both charging and discharging, as well not always getting paid for services to help maintain system stability.

Falling costs and longer run times pointed to a world where batteries could enable electricity systems to become 90-95 per cent green, Strømsø argued.“That is much better than anyone imagined just a few years ago.

All eyes this week are on BP, whose chief executive Murray Auchincloss will lay out the company’s strategy at an investor day on Wednesday, as the oil major faces pressure from activist investor Elliott to cut spending on renewable energy to boost its lagging share price.