The UK government has initiated a consultation on its proposal to stimulate long-term energy storage (LDES) investment, which includes upper and lower limit mechanisms and excludes lithium-ion batteries from eligibility.
As mentioned in the inquiry summary, LDES will play a crucial role in building intelligent and flexible energy systems, integrating low-carbon electricity, thermal energy, and transportation. Deploying 20GW of LDES between 2030 and 2050 can save the system £ 24 billion ($30.5 billion).
The solicitation of LDES investment proposals this time also reflects the strategic direction of supporting specific technologies in the energy sector. Long term energy storage is defined as a duration of 6 hours or longer, but does not include lithium-ion batteries. So far, the public response to soliciting suggestions in the industry has mostly been positive, but there is still mixed reviews.
China has now become the largest market in the world for the development, manufacturing, and implementation of liquid flow batteries. Dozens of liquid flow battery companies with years of history have promoted China's leading position in this field. Zhonghe Energy Storage is deeply involved in the field of liquid flow batteries, committed to the research and development, manufacturing, and application of long-term energy storage technology for liquid flow batteries. Its aim is to solve the industry pain point of high initial installation costs for liquid flow batteries by developing low-cost and high-performance revolutionary key materials, making it a long-term, low-cost, and safer large-scale energy storage technology, promoting the development of long-term energy storage industry, and helping China achieve its dual carbon goals.