Forecasting energy storage technologies

Purpose – In order to compliment the growing use of renewable energies in the US, additional technologies must be employed on the bulk power system. This paper aims to forecast the most probable energy storage technologies. Design/methodology/approach – The methodology was deployed in two steps: evaluate the potential energy storage technologies that could complement a wind turbine or photovoltaic system; and forecast which of these technologies is best poised to become a viable solution to the energy storage problem facing these renewable technologies. Findings – Based on the publication and patent data, compressed air energy is set to be the fastest growing complimentary technology to wind energy. Two of these types of plants are currently in existence today as mentioned previously indicating the technology is commercially available. This technology has great potential; however, implementing this technology involves finding or creating underground airtight caverns in usable locations. Research limitations/implications – The number of variables have been limited due to the methodologies chosen for this analysis. The research can be expanded using other criteria such as cost, cost of capital, economies of scale, environmental concerns, social and political constraints. Originality/value – This paper provides an assessment that was indicated as necessary by those who identified the need for the development of energy storage technologies for future electricity generation.