Economic Aspects of Innovations in Energy Storage

Wadim Strielkowski, Evgeny Lisin


Energy storage is emerging as a potential method for addressing global energy system challenges across many different application areas. However, there are technical and non-technical barriers to the widespread deployment of energy storage devices. With regard to the above, it seems crucial to identify innovation processes, mechanisms and systems (in a broad sense) that can allow energy storage to help meet energy system challenges, and also deliver industrial growth from technology development companies. The pioneers in delivering these new technologies are few, among them for example Elon Musk with his ground-breaking projects such as Tesla Motors and SolarCity, Powerwall (the Tesla home battery), and some others. This paper is dealing with recent developments and trends in the field of innovations in the energy storage. Its main value-added is the comprehensive overview of the current state-of-the-art and identifying the pathways to follow.

Keywords: energy storage, storage device, batteries, energy policy

JEL Classification: Q4

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