Energy storage deployment and innovation for the clean energy transition

The clean energy transition requires a co-evolution of innovation, investment, and deployment strategies for emerging energy storage technologies. A deeply decarbonized energy system research platform needs materials science advances in battery technology to overcome the intermittency challenges of wind and solar electricity. Simultaneously, policies designed to build market growth and innovation in battery storage may complement cost reductions across a suite of clean energy technologies. Further integration of R&D and deployment of new storage technologies paves a clear route toward cost-effective low-carbon electricity. Here we analyse deployment and innovation using a two-factor model that integrates the value of investment in materials innovation and technology deployment over time from an empirical dataset covering battery storage technology. Complementary advances in battery storage are of utmost importance to decarbonization alongside improvements in renewable electricity sources. We find and chart a viable path to dispatchable US$1 W−1 solar with US$100 kWh−1 battery storage that enables combinations of solar, wind, and storage to compete directly with fossil-based electricity options. Electricity storage will benefit from both R&D and deployment policy. This study shows that a dedicated programme of R&D spending in emerging technologies should be developed in parallel to improve safety and reduce overall costs, and in order to maximize the general benefit for the system.