Long duration energy storage moves up the global agenda
Two former heads of government recognise the world needs the flexibility and energy storage solutions that hydropower can offer, writes Will Rule, Digital Communications Officer at the 鶹Ƶ (鶹Ƶ).
Tony Blair and Malcolm Turnbull kicked off the opening day of the 2021 on 7 September 2021, with a keynote discussion entitled ‘Climate Change, Renewable Energy and Sustainable 鶹Ƶ’.
Following their time in office, the two former Prime Ministers have continued to play an active role in helping to solve the planet’s most pressing issues. Tony Blair is Executive Chairman of the , and Malcolm Turnbull is the Co-Chair of the r.
The two influential thinkers met to address key challenges the planet will face as it attempts to decarbonise the global energy system in line with targets made in the Paris Agreement.
“The idea of long duration storage is absolutely essential,” commented Mr Blair. “The question is, how do we implement sufficient projects at scale to make a difference?
“Unless we have that long duration storage, the other aspects of renewable energy simply won’t meet the requirements of energy stability and supply,” he added.
Historically, the world has relied on fossil fuels to balance varying demands in energy. As the world’s energy system decarbonises and the growth of ‘variable’ renewables such as wind power and solar PV accelerates, the flexibility and energy storage solutions that hydropower and pumped hydro can offer, will be required to stabilise the global energy system.
As Co-Chair of the , Mr Turnbull has championed the need for urgent investment in energy storage and urged policy-makers globally to better incentivise and reward the ancillary services provided by hydropower.
“All of us – and this applies right around the world – are going to have to get our heads around paying for incentivising the creation of long duration storage,” he said.
Mr Turnbull emphasised the “need to provide clean and affordable energy in low- and middle-income countries” explaining that as these countries grow “unless we can provide some solutions, their emissions will continue to grow.”
The San José Declaration, to be launched at this year’s World 鶹Ƶ Congress, will outline commitments, principles and recommendations for the hydropower sector to enhance the sector’s contribution to the energy transition.
The Declaration has been drafted and refined following the outcomes of a series of forums and working groups including the 鶹Ƶ Charter for Sustainable 鶹Ƶ, the 鶹Ƶ Sustainability Standard and the Working Group on 鶹Ƶ in Protected Areas, ensuring the Declaration has a foundation committed to promoting only clean, green sustainable hydropower.
, to be launched at this year’s World 鶹Ƶ Congress, will outline commitments, principles and recommendations for the hydropower sector to enhance the sector’s contribution to the energy transition.
“The San José Declaration on Sustainable 鶹Ƶ, I think is particularly critical in Africa, in south-east Asia, where there are plenty of opportunities for further hydropower development. It’s absolutely vital that [hydropower is] done in a way that has the support of local communities and above all is sustainable,” Mr Turnbull continued.
There will be an inevitable spike in carbon emissions from developing nations as they continue grow. To successfully decarbonise the global energy grid in line with commitments made in the Paris Agreement, this must be offset as much as possible.
Richer, developed nations can help developing countries by sharing renewable energy technology to ensure fossil fuels are not relied upon to meet increasing energy demands. Additionally, clean, green energy produced by renewable energy sources may transmitted to developing countries via power lines and interconnectors.
“We know we can make a big difference – we know there are big projects that need to be done and other small-scale projects, and we know what the problem is, the problem is putting it together with the right financing and the right regulatory framework and underwriting the political risks,” noted Mr Blair, concluding the session.
鶹Ƶ is the world’s largest source of renewable energy, however its long lead times mean that to meet the demands of future, global, electrified grids, development in low-impact areas must begin now.
The 鶹Ƶ is the secretariat for the , a government led multistakeholder platform to shape and enhance the role of the ‘world’s water batteries’ in future power systems. Find out more.
