Demands and challenges of energy storage technology for future power system

Abstract This paper addresses the pressing necessity to align the regulatory capacity of renewable energy sources with their inherent fluctuations across various time scales. Emphasising the pivotal role of large‐scale energy storage technologies, the study provides a comprehensive overview, comparison, and evaluation of emerging energy storage solutions, such as lithium‐ion cells, flow redox cell, and compressed‐air energy storage. It outlines three fundamental principles for energy storage system development: prioritising safety, optimising costs, and realising value. Through analysis of two case studies—a pure photovoltaic (PV) power island interconnected via a high‐voltage direct current (HVDC) system, and a 100% renewable energy autonomous power supply—the paper elucidates the critical role of energy storage in facilitating high levels of renewable energy integration. Furthermore, it delves into the challenges inherent in the development of energy storage systems.