Renewable energy from wind and solar may be clean and cheap, but they are also intermittent and unpredictable. Traditionally, thermal generation such as coal, gas or nuclear are used to offset the limitations of renewables, especially during hours that are not windy or sunny. However, energy storage has finally become an economic and sustainable alternative to thermal generation.
Project costs have fallen by almost 80% in the past decade, while regulatory support continues to increase. Energy storage has reached an inflection point, with US capacity tripling in 2021. Simply put, the energy transition cannot happen without energy storage.
Virgilio Zaldivar
Head of Nordics Institutional Client Coverage
UBS Asset Management
T: +46 8 453 24 27
E: [email protected]
