The 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) was held in Glasgow, UK from October 31 to November 12. At the conference, the Long Term Energy Storage Council (LDES Council), composed of energy technology developers, end-users, and investors, was officially established, with 25 founding members.



The council members include long-term energy storage manufacturers of various types, including mechanical energy storage, electrochemical energy storage, and thermal energy storage (see table below).





Its main members include Form Energy, which claims to store energy for up to 150 hours, as well as BP and Bill Gates' Breakthrough Energy Ventures. In addition, it also includes major equipment manufacturers such as Alfa Laval GmbH from Sweden, Baker Hughes from the United States, Siemens Energy, renewable energy developer Greenko, industrial end users NEOM, Rio Tinto, and utility company NYPA.



The mission of this council is to replace fossil fuels with zero carbon alternatives to address energy imbalances. The goal is to deploy long-term energy storage systems ranging from 85TWh to 140TWh globally by 2040, replacing fossil fuels with a combination of renewable energy sources for long-term energy storage, thereby reducing annual carbon emissions in the power sector by 10% to 15% and reducing emissions by approximately 2.3 billion tons of carbon dioxide per year. To achieve this long-term energy storage installation goal, a global investment of $1.5 trillion to $3 trillion is needed.



The Long Term Energy Storage Council pointed out that fossil fuel power generation (mainly natural gas) is being used to compensate for the power supply shortage caused by the instability of photovoltaic and wind power generation. Although lithium-ion battery energy storage systems are currently a commonly used solution, the council pointed out that the cost of lithium-ion battery energy storage is too high and not economical in long-term energy storage scenarios with continuous discharge times exceeding 8 hours.



The installed capacity of the long-term energy storage deployment target set by the Long Term Energy Storage Council will be 4 to 7 times that of the currently installed lithium-ion battery energy storage systems, and the required investment will be approximately 5 to 11 times the global renewable energy investment in 2020. The council will release its first annual report on November 23, outlining the necessity of long-term energy storage systems in achieving net zero emissions. Its future planned activities include providing guidance and information to governments, power grid operators, and other stakeholders in various countries.



There are not many companies in China currently engaged in technology development in the field of new long-term energy storage, and ZH Energy Storage is committed to developing low-cost 4-12 hour energy storage technology. Recently, ZH Energy Storage has just launched a calculator that can more scientifically calculate the full life cycle electricity cost of various energy storage products. Please try it out and provide feedback:

http://www.z-henergy.com/nelcos





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