The energy storage industry faces several notable limitations and gaps that hinder its widespread implementation and integration into power systems. Challenges include the necessity for appropriate market design, regulatory frameworks, and incentives to stimulate investment in energy storage solutions.
The challenges of large-scale energy storage application in power systems are presented from the aspect of technical and economic considerations. Meanwhile the development prospect of global energy storage market is forecasted, and application prospect of energy storage is analyzed.
Inadequate market design in Europe is more in favor of traditional technologies and pushes the market towards more use of old technologies rather than preparing for the presence of emerging technologies, and this can affect and reduce the speed of development and spread of new energy storage technologies (Ruz and Pollitt, 2016).
Therefore, storage problem for RES becomes a new research focus , and the energy storage technology thus attracts tremendous attention. China has rich RES, however, due to the inconsistency between power output period and consumption period, wind power abandoning is serious .
Energy storage has the potential to play a crucial role in the future of the power sector. However, significant research and development efforts are needed to improve storage technologies, reduce costs, and increase efficiency.
The application scenarios of energy storage technologies are reviewed and investigated, and global and Chinese potential markets for energy storage applications are described. The challenges of large-scale energy storage application in power systems are presented from the aspect of technical and economic considerations.