REA have today published a report into longer-duration energy storage.
The UK will need at least 30GW by 2050, but this target is currently undeliverable based on the present market and regulatory framework.
REA‘s Director of Policy, : Frank Gordon: “It’s clear that, in order to drive investment in this area, a new market mechanism is needed.”
Drax Group CEO, Will Gardiner: “With the right support framework from Government a new generation of pumped hydro storage power stations can be built, supporting new jobs and helping the country decarbonise faster.”
You can read REA’s report – ‘Longer-Duration Energy Storage: The missing piece to a Net Zero, reliable and low-cost energy future’ – here.