More people are generating energy at home, and more green sources are coming on line—what do we do with all that power?by Peter Aldous / February 21, 2018 / Leave a comment
Published in March 2018 issue of Prospect Magazine
The UK’s energy storage sector is on the brink of historic growth. The increased ability to store power goes beyond supporting the grid’s ability to manage greater low-carbon and renewable power supplies. Lower costs and new business models have the potential to bring enormous change. Self-generation of electricity will become more popular, our industrial base will be more competitive and cheap renewables can be more easily deployed if the ability to store energy becomes more widespread.
And yet, despite the triumphs of private-sector innovation and the support of the nation’s academic powerhouses—the lithium-ion battery was invented in Oxford—a slower-to-evolve regulatory system risks incapacitating our growth.
The All-Party Parliamentary Group on Energy Storage’s report in December said that 12GW of battery storage in Britain is possible by the end of 2021. This has raised the question of whether it really is possible to gain a foothold in the battery business while 88 per cent of battery manufacturing capacity takes place in Asia. I believe that nay-saying will get us nowhere. I am not alone—the government’s ambitious £246m Faraday Challenge is designed to fuse academic excellence and industrial ambition to turn the UK into a leading hub of battery development.