Are energy storage technologies viable for grid application?

Energy storage technologies can potentially address grid concerns viably at different levels. This paper reviews different forms of storage technology available for grid application and classifies them on a series of merits relevant to a particular category.

Does R&D help firms innovate in energy storage?

In terms of covariates, R&D was associated with firm innovation in energy storage. It is reasonable to assume that the total number of patent applications reflects firms’ R&D ability to integrate internal and external innovation resources, which could help firms innovate in niche markets such as energy storage.

What is energy storage technology?

Energy storage (ES) technology has been a critical foundation of low-carbon electricity systems for better balancing energy supply and demand [5, 6]. Developing energy storage technology benefits the penetration of various renewables [5, 7, 8] and the efficiency and reliability of the electricity grid [9, 10].

Why is energy storage a new technology?

One possible explanation is that energy storage technology is currently in a rapid development stage, with new technologies such as large-scale stationary energy storage continuing to emerge.

Why is energy storage technology a risky investment?

One possible explanation is that, as an arising technology, energy storage technology has witnessed rapid change and iteration in recent years, resulting in higher financial investment and risk during the R&D stage.

Does digital energy storage technology improve system operation and maintenance?

It is also related to previous evidence on the significance of digital energy storage technology in enhancing system operation and maintenance [1, 55], which implies the global efforts towards the development of digital and intelligent energy‐storage systems.