Published Date : May 30, 2016
In 2013, the International Energy Outlook had published that there will be a major spike of 56% for energy consumption between 2010 and 2040. This growth in energy consumption has to be met with an equal supply in order to preserve the growth rate of economies and industries. This cannot be achieved by simply ramping up the energy generation; power production is extremely complicated and an integral part of the economy.
Energy Storage Today
We have come a long way from simply storing potential energy and converting it to kinetic energy. As the demands for energy are increasing constantly, hydro power and the current variants are expected to fall short of meeting with the growing demands. Most of the current energy storage devices and systems use either mechanical stress, rechargeable batteries, or gravitational pull for storage. There are major developments happening in the field of thermal energy storage, where ice storage tanks are used to store thermal energy in the form of latent heat. It can help store the night time energy supply in the form of latent heat so that it does not get wasted, and resupply it back to the system in day time peak hours.
The power storage and distribution scenario post the twentieth century has been a rather intricate one. Before the turn of this century, most of the energy was generated through the burning of fossil fuels. Now there are a lot more options available, most of which form the sector of renewable energy. These forms were created out of two concerns. Firstly, the concern of depleting the limited reserves of fossil fuels, and secondly, the growing concerns over the pollution levels. In the light of these concerns, not only did power companies start seeking alternatives to fossil fuels, but they also started looking for better ways to store energy. This gave rise to the concept of using, storing, and supplying energy based on economy, rather than location. The current complication lies in the transportation of this stored power without the burning of excessive fossil fuels, a process which is still in early developmental stages.