A major report released by the Long Duration Energy Storage (LDES) Council has revealed the extent by which renewable energy storage technologies could contribute to global industry reaching net zero targets by 2040.
LDES Council, a CEO-led organisation formed during COP26, produced the report with McKinsey & Company to detail the application of LDES technologies, the flexibility requirements demanded by high-renewables future power grids, and the necessary investment.
To form the report, the 24 founding Council members worked together to reach a conclusion that states 85-140 TWh (Terrawatt-hour) of long duration energy storage (>8 hours) can be deployed on a global scale to create a carbon net-zero power grid.
The report also revealed that 1.5 to 2.3 Gt (Gigatonnes) of carbon dioxide (CO2) produced on an annual basis could be mitigated using renewable sources.
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