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Mitsui & Co. Global Strategic Studies Institute Monthly Report February 2021 SUMMARY National governments and businesses are setting goals for zero emissions, and the introduction of renewables will continue to expand to achieve these goals. In the future, it will be necessary to effectively utilize surplus renewables rather than discarding them as in the present, and power storage will become increasingly important. At present, batteries are the major technology used for power storage, but there will be more understanding that batteries are suitable for storage of small volumes of power for short periods, and that thermal energy storage is effective for storage of large volumes of power for extended periods. Energy business operators need to consider combinations of power storage technologies optimized from perspectives such as storage time and capacity, cost, demand and transmission grids, and location as power storage shifts from primarily using batteries in the past to practical application of thermal energy storage and hydrogen energy storage in the future. Thermal energy storage, and particularly latent heat storage materials, are technologies still under development, and the reduction of costs through the maturity of technology will depend on future technological development, but the promotion of such technologies warrants continued attention. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Any use, reproduction, copying or redistribution of this report, in whole or in part, is prohibited without the prior consent of Mitsui & Co. Global Strategic Studies Institute (MGSSI). This report was created based on information and data obtained from sources believed to be reliable; however, MGSSI does not guarantee the accuracy, reliability, or completeness of such information or data. Opinions contained in this report represent those of the author and cannot in any way be considered as representing the unified opinion of MGSSI and the Mitsui & Co. group. MGSSI and the Mitsui & Co. group will not be liable for any damages or losses, whether direct or indirect, that may result from the use of this report. The information in this report is subject to change without prior notice. 7PDF Image | THERMAL ENERGY STORAGE DEVELOPING FOR A DECARBONIZED SOCIETY
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