World Energy Storage Day

Altelium celebrates World Energy Storage Day on September 22nd.

Less than five per cent percent of electricity generated by utility companies globally is currently stored, but tripling the amount of energy storage capacity by 2050 would help limit global warming to below 2°C over the same time.   

The many ways in which energy storage provides solutions to the challenges of our time are highlighted in the report “Beyond the Tipping Point: Future Energy Storage”:  

– At the global level, energy storage can help curb climate change by decreasing emissions from electricity, heating and cooling needs.

– At the community level, energy storage can build more resilient and flexible energy systems with higher levels of energy security through the integration of locally produced energy.

-From the citizen perspective, energy storage holds the benefit of improved control of energy costs and origin.

-For the private sector, energy storage can open new business opportunities with constant innovation of offered services. These can range from energy-storage-as-a-service enterprises to market actors expanding to installation of storage systems, charging stations and virtual power plants.

The report explores some of the challenges to the rapid adoption of energy storage, and some of the different technologies in development.

At Altelium we provide customised battery insurance solutions for lithium-ion batteries, a technology which is already at work across the world delivering power to vehicles and energy storage systems.

How does insurance support the energy storage market? Warranty products free OEMs’ balance sheets of long-term liabilities, substituting them with A-rated insurance capital. End-users secure lower cost project finance. Both parties achieve better returns. Our battery insurance services help support investment in the energy storage market.

We provide the world’s first data-driven insured battery warranty for energy storage, and look forward to celebrating many more World Energy Storage Days to come.