The transition to all-electric everything would require an increase in electric generation to approximately 13,000 TWH from a storage supported predominantly intermittent generation fleet of approximately 6,000 GW with a capacity factor of approximately 30%, depending on the mix of wind and solar in the generation fleet.

Iron-air batteries use rusting as their central technology. In an iron-air battery, iron, water and air are the components. The iron rusts to discharge power and the rusting is reversed to charge the battery.

The high demand for lithium-ion batteries has translated into shortages of lithium along with shortages of other essential commodities like copper, aluminum, nickel and cobalt.

Electric utilities are facing a future of increased competition, disruptive technologies, and changing customer demands.

The state government of Karnataka (India) has proposed the construction of a 2 GW underground electricity storage project in the Sharavathi basin for an investment of INR53.9bn (US$700m).

China aims to boost its pumped storage capacity to 62 GW by 2025 and 120 GW by the end of the decade.

The programme includes €6.9bn of state funding, and €9.5bn of private investments.

The World Bank has awarded a US$380m loan to build the 1,040 MW Upper Cisokan pumped-storage hydropower plant, to be located between Jakarta and Bandung in Indonesia.

The renewable optimists, however, have long insisted that improved battery storage technology is right around the corner and will solve all renewable scalability issues.

The Solar Energy Corporation of India (SECI) plans to tender a 2,000 MWh standalone energy storage system (ESS).