Beyond the Tipping Point: Future Energy Storage

Author Maria Xylia et al.
Senior Energy Systems Analyst

Energy storage has been identified as a key to climate change mitigation. Globally, only 3% of power capacity is being stored. To limit global warming to below 2°C, energy storage capacity needs to triple by 2050. To do this we need to look at innovative ways of speeding up the process. Could energy-storage-as-a-service be one of the solutions? The report “Beyond the Tipping Point: Future Energy Storage” explores the opportunities associated with energy storage, as well as the obstacles standing in the way of its implementation.

Through energy storage we can use energy more effectively, minimizing carbon emissions. To limit global warming to below 2°C energy storage capacity would need to increase from 140 GW in 2014 to 450 GW in 2050. Today, only 3–4 percent of electricity generated by utilities globally is stored.