Battery storage refers to the technology and systems that store electrical energy in batteries for later use. This involves the use of various types of rechargeable batteries, such as lithium-ion, lead acid, or flow batteries, to capture excess electricity generated from renewable sources, like solar or wind power, or during off-peak energy production. The stored energy can be discharged as needed, providing a reliable power supply during peak demand times, outages, or when renewable generation is low. Battery storage plays a crucial role in enhancing energy security, grid stability, and supporting the transition to cleaner energy sources by enabling better management of supply and demand, reducing reliance on fossil fuels, and facilitating the integration of renewable energy technologies into the power grid.
Battery storage in Australia is witnessing a remarkable transformation. According to a recent analysis from Wood Mackenzie, investments in battery storage systems within the National Electricity Market (NEM) are turning…