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There has been a growing focus on the exploration of renewable energy sources, of which solar, wind, tide, and wave energies represent successful sectors at the moment. However, renewable energies are typically not continuously available due to external factors that cannot be controlled.
As a result, sustainable advancements in both energy generation and energy storage technologies are required for a sustainable energy future.
While the increasing energy demand brings great prosperity to human society, it also creates challenges for energy resources and the consumption of conventional fossil fuels causes an increase in Electricity (or energy) storage is a rapidly expanding area of research as a result of the need to address the intermittent nature of these clean energies.
One of the most important ways to effectively incorporate intermittent renewable energies into power systems are battery storage systems. High-power and high-energy-density rechargeable battery technologies are also currently undergoing vigorous development for vehicle electrification.
Setting power cable-free, rechargeable batteries have powered numerous mobile electronics that support our modern life. The design of electrochemical storage systems must take into account the cost/abundance of materials, environmental/eco efficiency of cell chemistries, as well as the life cycle and safety analysis.
Scaling up from portable power sources to transportation-scale and grid-scale applications, utility-scale batteries are expected to enable a great feed-in of renewables into the grid by storing excess generation and firming renewable energy output. Some of the aforementioned sustainability requirements may be met by a number of current rechargeable battery technologies.
The global sustainable battery material market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
It is anticipated that the utilization of long-term and large-capacity energy storage technologies like thermal energy or hydrogen-based energy storage will rise during the subsequent COVID-19 period. This is due to the fact that investments in this area will improve to meet the requirements for large-scale energy storage technologies.
Energy storage technologies that are able to balance the seasonal fluctuations in electrical energy supply and demand will become increasingly popular in the future.
It is anticipated that momentum will increase in research and investments in energy storage technology that will collaborate with renewable energy technologies to ensure the continuity of the electricity supply to the grid and rapidly respond to changes in demand.
The COVID-19 pandemic is one significant occurrence that has an impact on the global energy demand of humanity. The impact of events that have become significant over the past century on energy demand is depicted in Figure 1.The outbreak of COVID-19 was identified as the event that had the most significant negative impact on energy demand following World War 2.9.
Additionally, the graph demonstrates that energy demand is rapidly increasing following global catastrophes. Similar to how they did following the Spanish flu and other catastrophic events, it was anticipated that the COVID-19 pandemic would result in significant increases in the amount of energy required by various industries.
