Energy Storage Is The Backbone Of The Renewable Revolution

Renewables are exploding. Countries around the world are adding clean energy production capacity at a breakneck pace in a race against the clock to shore up energy security and beat climate change. While environmentalists and economists alike have been warning for decades that the future of the energy industry – and, indeed, the global economy – lies in renewable energies and not fossil fuels, industry and policy leaders have been slow to adapt. Until now. The massive scale and reach of the recent shocks to the global economy (Covid-19 and Russia’s illegal invasion of Ukraine) have been devastating to energy markets and to consumers’ bank accounts and livelihoods. 26 million people in the United Kingdom alone are expected to sink into energy poverty over the winter months, and the outcome will be even more devastating in the developing world. But there is a…

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