Energy storage, what is it, and how is it used? Simply put, energy storage is short to long-term storing of energy in electrical, mechanical, chemical, and electrochemical forms. It is a broad term that encompasses everything from AA batteries to hydroelectric dams and even elevated mass. Anything that you can put energy into then recovers at a later point is energy storage. While these all store energy in one form or another, not all are useful in the renewable energy space.
This article will begin with an overview of the current state of renewable energy storage in the global market, and then discuss various types of storage technologies and finish off with a discussion of current costs and how Australia is competing in this environment.