MOSCOW (MRC) -- Long Duration Energy Storage (LDES) Council releases a major report on how energy storage technologies can enable net-zero power grids by 2040, said the company.
The report, produced in collaboration with McKinsey & Company, details the application of LDES technologies, the flexibility requirements needed in future high-renewables power grids, and an analysis of the investment actions required.
To achieve decarbonization, significant effort must be made to reduce emissions across all sectors. The power sector, which accounts for roughly one-third of global carbon emissions, is central to global decarbonization. Long duration energy storage can cost-effectively store electricity from wind, solar and other renewable sources and then make it available when needed.
The report concludes that 85-140 TWh of long duration energy storage (>8 hours) can be deployed globally to enable power grids to become carbon net-zero. This will eliminate between 1.5 to 2.3 Gt of CO2 currently produced annually through allowing grid energy imbalances to be met by renewable sources opposed to fossil fuels, equivalent to 10-15 percent of total emissions in today’s power sector.
As per MRC, Alfa Laval, a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling, has strengthened its operations in the United States with three new facilities, expanding its commitment to serving its customers in the United States.
As MRC reported earlier, Alfa Laval has recently won an order to supply compact heat exchangers to a refinery and petrochemical plant in China. The order has a value of approximately SEK 100 million and is booked in the Welded Heat Exchangers unit of the Energy Division. Deliveries are scheduled for 2020.
The LDES Council is a global, CEO-led body 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.
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