Grid-scale energy storage has the potential to make the transition to a low-carbon energy system easier, quicker, and cheaper than it would be otherwise. Progress has been made to bring a wide array of storage technologies to the market, thanks in part to federal and state policies. However, these options are still not cheap enough or powerful enough to provide all of the storage services required to operate a clean, 21st century grid optimally. Moreover, the industry now faces the risk of “lock-in” as lithium-ion batteries control more than 90 percent of this emerging market, making further innovation in potentially superior technologies more difficult.
Please join ITIF for the release of an MIT Energy Initiative working paper. The report’s authors, ITIF Senior Fellow David M. Hart and MIT Professor Bill Bonvillian, will present their findings and discuss policy options to spur grid-scale storage innovation with an expert panel.