Industry Expert Interview Series: "Policy, cost and life time of energy storage are amongst the biggest challenges to the industry”
Exclusive interview with AD Huang, General Manager, BYD Company Limited, China and speaker in the Renewable Integration & Storage track in the upcoming European Utility Week.
How do you see energy storage developing in the next coming years, globally and in Europe? Why should utilities invest in energy storage?
As more and more renewable sources are installed in the world, especially in the EU, energy storage can help to increase grid stability. In addition, the use of energy storage as reserve capacity will enable utilities to better respond to the end users’ request.
Today, technology advancements in grid-scale energy storage and related markets are rapidly driving down the cost of emerging solutions to this problem. Technology developers are all striving to develop and commercialise various forms of energy storage including batteries, compressed air, fly wheels, and thermal ice storage. How successful are these efforts according to you?
Since li-on batteries are not only used in energy storage but also for EV applications, the battery costs will go down quickly. BYD has already done a lot of projects worldwide and we believe the energy storage will play an important role in the future.
What are the industry’s biggest challenges related to renewable energy storage?
Policy, cost and life time of energy storage are amongst the biggest challenges to the industry.
How do you see the economic viability of energy storage and what technologies are closest to commercial viability?
As the costs are going down and the use of li-on battery applications will increase, energy storage will become economically viable soon.
What steps need to be taken to accelerate successful development and deployment of energy storage at all levels?
- Active Policies... Like the DESS system in Germany.
- International standardization is an essential issue in allowing the development of energy storage technologies.