Garvity Storage Day
Garvity Storage Night

Why Store Energy?

We believe that the demand for energy storage will continue to grow strongly in the decades to come – due, in particular, to the following global megatrends in electricity supply:

  • Solar energy will become the dominant source of power supply for roughly 80% of the world’s population, with wind power also featuring strongly in some regions.
  • Global energy consumption will continue to increase, due to the ongoing electrification of daily life (IT, mobility, cooling, desalination, etc.) in developed economies and the industrialization of emerging economies.

The worldwide development of wind and solar energy are experiencing growth that very soon could make the fluctuating generation a core issue of the power supply. If we assume a long-term growth of photovoltaic installations to continue at the current growth rate of 25% per year, then in 2030, the power globally available from photo voltaic systems would be sufficient to supply the world with electricity. This is, however, only a theoretical value. When the sun does not shine, the power must be provided from other sources. With wind energy, the growth rate is also continuous. When the fluctuating generation becomes the dominant means of generating energy, long-term large storage capacities will be required in order to guarantee the safety of the supply during periods of little or no wind, and during darkness.