The novel portable energy storage technology, which carries energy using hydrogen, is an innovative energy storage strategy because it can store twice as much energy at the same 2.9 L level as conventional energy storage systems. This system is quite effective and can produce electricity continuously for 38 h without requiring any start-up time.
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.
The storage system has opportunities and potentials like large energy storage, unique application and transmission characteristics, innovating room temperature super conductors, further R & D improvement, reduced costs, and enhancing power capacities of present grids.
It is characterized with the development and utilization of large-scale renewable energy. With the development of smart grid, supported by investment and government policies, the prospect of energy storage application are gradually emerging [1 – 5].
The development and commercialization of energy storage technology will have a significant impact on power system in terms of future system model . In recent years, both engineering and academic research have grown at a rapid pace, which lead to many achievements.
Even if the energy storage has many prospective markets, high cost, insufficient subsidy policy, indeterminate price mechanism and business model are still the key challenges.