Will Batteries /Capacitors or Any Innovative Storage Technology Define the Future of Renewable Energy?

Abstract

Renewable energy, especially solar and wind power, are quickly becoming the dominant central focus of new electricity generation investment. A prediction states that $10.2 trillion will be spent on new power generation worldwide through year 2040, 72 percent mostly invested in new wind and solar plants. The challenge is that the growing dependence on wind and solar energy can cause electrical grids to become unstable due to change in weather which affect wind speed and permanent sunny exposure. As these intermittent sources of power grow in importance a back-up network of fossil-fuel generators primarily designed to meet demand peaks will be the traditional way to maintain their stability. Ultimately, the more efficient solution lies in energy storage, particularly in advanced batteries/ capacitors or innovative storage technology that can help in avoiding fluctuation of power output. However, as energy markets accelerate along the transition from conventional to sustainable energy generation, there will be a growing problem that the industry must address to scientific researches in this field. Capacitors store energy using electrodes and electrolytes that both charge and deliver energy quickly. On the other hand, normal batteries conduct the same in a slower sustained performance. However, due to the fact that capacitors have poor energy density shorten its energy storage competition in the market and redirect Scientists and researchers to endeavor in attaining the highest possible energy density or find another innovative economical mode of storing energy. The paper will present evolution of those type of newest improved technology in both batteries /capacitors and other advance technologies and investigate which could possibly lead the market to define the future of renewable efficient and stable energy.