The availability of many storage options in Australia partly led the country to be a world leader in energy storage technology in 2017, according to new research.
Greentech Media published a report that showed Australia’s installation of 246 megawatts of stored power capacity. For this reason, the country outranked other developed nations such as Japan, Germany and the U.S.
The stored energy in the previous year was enough to provide power for nearly 400,000 houses at the same time, the report noted. It identified a transition to renewable energy as the reason behind the trend. Industry expert Greg Bourne said that the country also led in terms of investments in renewable energy, which rose almost 150 per cent to $11 billion in 2017.
Energy storage has become a pressing concern not just for households in Australia. Producers of liquefied natural gas (LNG) should consider physical storage options, including a fabric structure, due to the expected increase in exports.
The Department of Industry, Innovation, and Science expects Australia to be the biggest supplier of gas in the next four years. It attributed the growth of LNG exports and investments as some of the major reasons for the forecast. By the end of 2018,LNG exports would reach $35 billion.
This only proves that investing in energy storage makes more sense to prepare for the future. Demand for LNG supplies would increase, as the country expands its role in the global export market. Hence, an efficient pipeline and storage network would help companies remain competitive and relevant in the industry.
Households and power companies may have different reasons for energy storage, yet the intended goal would often be the same. Whether you intend to use it for personal or business use, a reliable way to store energy should be your first option.