COP28: Energy storage against energy poverty

The COP28 saw 11 countries unite in a global consortium with the goal of introducing energy storage solutions in underdeveloped and medium-developed nations. This multilateral effort has set an ambitious target of developing projects amounting to 5 GW of capacity. The aim is to alleviate global energy poverty through these initiatives.

The Battery Energy Storage System Consortium (BESS Consortium) was established in April this year under the auspices of the Global Energy Alliance for People and the Planet (GEAPP). This initiative garnered support from the Global Leadership Council, a collective comprising esteemed global leaders at the forefront of various fields.

Consortium priorities

The BESS Consortium is chiefly focused on accelerating energy storage advancements in low- and middle-income nations and fostering the advancement of off-grid renewable energy aggregation technologies.

In its objectives for 2023-2024, the consortium aimed to secure commitments from utilities and governments in more than 10 countries to integrate energy storage within their networks.

Remarkably, the consortium achieved success in this endeavor, with the following countries joining: Barbados, Belize, Egypt, Ghana, India, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Togo.

Several of these countries have already taken steps towards implementing energy storage or have formulated supportive policies for this technology. For instance, Kenya recently initiated a feasibility study for its inaugural energy storage project, backed by financing from the World Bank.

High demand for energy storage

In a declaration made during the UN COP28 climate conference on December 2, the alliance emphasized the requirement for 90 GW of energy storage by 2030 to mitigate worldwide energy poverty.

The BESS Consortium is slated to receive support from a multitude of development finance institutions, non-profit organizations, private companies, and nations spearheading advancements in energy storage technologies.

Source: energy-storage.news