COP28 and the case for more battery energy storage

The COP28 climate conference marked an important moment in the global conversation about energy storage and batteries. While signalling the need to move away from fossil fuels, it emphasised the potential of energy storage to shape a sustainable energy future.

It proved a historic conference as, for the first time in 28 years, fossil fuels were formally recognised as the primary driver of climate change. It challenged the long-held narrative that fossil fuels were necessary for the energy mix and laid the foundation for a faster transition to a low-carbon economy.

The conference provided an opportunity for stakeholders to discuss the complexities of energy storage technologies and their potential to contribute to a more sustainable energy future. The discussions focused on integrating renewable energy sources, enhancing the stability of power grids, and addressing the issue of energy poverty.

And there were several notable developments related to energy storage, including the launch of the Supercharging Battery Storage Initiative and the Multilateral Consortium for Battery Storage.

Member governments of the Clean Energy Ministerial (CEM), including the European Commission, and the United States, announced the launch of the Supercharging Battery Storage Initiative. This initiative aims to increase the capacity of battery storage in the power grid while ensuring a transparent, resilient, and sustainable energy system. It is focused on reducing technology costs, as batteries play a crucial role in creating a flexible and reliable energy system.

“Battery storage will be the backbone of the green transition with an essential role in decarbonising transport and energy. It will enable a truly decentralised and integrated energy system based on efficient use and renewable generation,” said Maroš Šefčovič, Vice President of the European Commission.

Bridging the energy gap

The Global Leadership Council announced the formation of the Battery Energy Storage Systems (BESS) Consortium, with participation from 11 African countries. The consortium has pledged to deploy a minimum of 5GW of battery storage systems in Africa by 2030. The initiative seeks to tackle energy poverty and improve access to reliable electricity in low- and middle-income nations on the continent.

COP28 participants have also called for increased investment in research and development for energy storage technologies. The aim is to accelerate innovation, improve performance, and reduce costs, making energy storage more accessible and cost-effective.

Critically the conference marked an important moment in the global conversation about energy storage, emphasising the potential of energy storage to significantly shape a sustainable energy future.

To achieve this, we need all battery chemistries including lead batteries, capable of delivering energy storage capacity at scale.

The conference’s outcomes indicate a renewed commitment to accelerating the development and deployment of these technologies. As energy storage becomes more widespread and cost-effective, it will play a critical role in addressing climate change, ensuring energy access, and creating a more resilient and sustainable energy system.

Photo credit: UNFCCC