An Overdue Step Towards a Zero-Emission Power Grid

The G7 countries' decision for an ambitious expansion of renewable energies and energy storage solutions, along with the phase out from coal energy by the mid-2030s, marks a significant stride towards a sustainable global energy landscape. Their commitment to increasing energy storage capacity sixfold, with a target of 1,500 GW by 2030, reflects a clear market signal for technology providers, investors, and operators.

A statement by Jakob Bitner, Co-founder and CEO VoltStorage

An Overdue Step Towards a Zero-Emission Power Grid

The G7 countries' decision for an ambitious expansion of renewable energies and energy storage solutions, along with the phase out from coal energy by the mid-2030s, marks a significant stride towards a sustainable global energy landscape. Their commitment to increasing energy storage capacity sixfold, with a target of 1,500 GW by 2030, reflects a clear market signal for technology providers, investors, and operators.

Commitment to Renewable Energy Integration

This strategy not only supports the transition away from fossil fuels but also aligns with international climate agreements like COP28. By emphasizing energy storage, the G7 aims to mitigate concerns about reliability and grid stability, facilitating and optimizing the seamless integration of renewables.

Driving Innovation and Cost Reductions

The promotion of stationary battery storage development underscores a holistic approach to energy storage challenges, driving innovation and cost reductions. The rapid expansion of battery technology, highlighted by the International Energy Agency´s latest report only weeks ago, signals its pivotal role in reshaping the global energy landscape.

Ending Fossil Fuel Subsidies Abroad

Furthermore, proposed measures to end subsidies for fossil fuel development abroad align with the broader objective of transitioning to a low-carbon economy. Overall, the G7's commitment represents a significant milestone in addressing climate change.

Diverse Storage Options for a Resilient Grid

In embracing a holistic approach to renewable energy expansion and storage, it's crucial to recognize the diversity of storage options available. Our Iron Salt Battery, based on sustainable redox flow technology, is tailored for Long Duration Energy Storage (LDES) scenarios, enabling the integration of 100% renewable energy into the grid.

Addressing Varied Energy Needs

While lithium-ion batteries excel in short-duration applications, solutions like the Iron Salt Battery offer distinct advantages in scenarios requiring prolonged storage and discharge cycles. Its scalability, long cycle life, and minimal environmental impact make it an ideal choice for LDES, bolstering grid stability and enabling widespread renewables adoption.

Collaboration for a Sustainable Future

Incorporating diverse storage options into the energy mix enhances grid reliability and accelerates the transition to a sustainable, decarbonized future. Collaboration and innovation in energy storage technologies are crucial in achieving ambitious climate targets.

The G7´s commitment to advancing sustainable energy solutions underscores the importance of embracing diverse storage options tailored to evolving energy needs. Together, through strategic deployment of technologies like the Iron Salt Battery, we can unlock renewable energy's full potential and pave the way for a cleaner, more resilient energy landscape.

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