A report released during London Climate Action Week emphasizes the urgent need for scaling up stationary energy storage systems to enhance the efficiency of renewable energy sources. Titled 'Navigating the investment case for co-located long-duration energy storage: Delivering 3x Renewables by 2030,' the document underscores the pivotal role of long-duration energy storage (LDES) technologies in achieving a significant increase in renewable energy usage by the end of the decade.
The report suggests that companies such as SolarBank Corp. could benefit from the rising demand for LDES solutions, which are essential for storing energy generated from intermittent sources like wind and solar. This development is crucial for the global transition to cleaner energy systems, offering a pathway to reduce reliance on fossil fuels and mitigate climate change impacts.
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