Date: 15 November, 2024

Time: 13:30-14:45

Venue: Global Renewables Hub (C11/C9)

At COP28 more than 130 countries committed to a global renewable energy target of 11 Terawatts (TW) by 2030, trebling today’s installed capacity. Yet these commitments are necessary, but not sufficient, to achieve transformative change. The sun does not always shine and the wind does not always blow, therefore energy storage is vital to balance supply and demand and unlock the full potential of renewable technologies to decarbonise energy systems globally.

The commitments made by national governments to accelerate the clean energy transition and rapidly develop renewable energy resources must be matched by efforts to rapidly deploy and scale energy storage technologies.

Setting a specific target for energy storage deployment will provide clarity, direction, and accountability for policymakers, industry, investors, and stakeholders. A quantifiable target can be tracked, and progress measured. A storage target would provide context for the relevant enabling policy initiatives while setting the stage for investment across the supply chain. A global target would further raise awareness among stakeholders of the need for these technologies to enable and accelerate deep and durable decarbonisation.

This session aims to introduce the need for energy storage as a vital enabling component in delivering 3X renewables by 2030 and beyond that net zero and the full energy transition. Includes introduction to the different technologies, their capabilities and benefits (long and short duration, grid services, power/ electricity based and thermal technologies supporting industrial decarbonisation etc.).

Moderator: Julia Souder, CEO LDES Council

Speakers:

• Malcolm Turnbull, President, International Hydropower Association
• Philipp Offenberg, Director, Europe, Breakthrough Energy (tbc)
• Debi Prasad Dash, Executive Director, India Energy Storage Alliance (tbc)