Whereas gas, oil and coal can be stored and burned on demand, renewable energy sources like wind and solar are dependent on the climate, which can make it difficult for renewables to cope at times when the demand for electricity is at its highest.
The solution to this problem is energy storage technology like batteries, which can store renewable energy and save it for times when the sun does not shine and the wind does not blow. Creating enough storage capacity to serve the whole world is, however, far easier said than done.
That said, several companies are already proving that necessity is the mother of invention, with their technologies showing a glimpse of what a future defined by energy storage will look like, from residential installations to grid-scale infrastructure.
In this week’s Top 10, we take a look at some of the firms that are lighting up the sector.
10. Stem
Founded: 2009
Based in: Houston, Texas, US
CEO: Arun Narayanan
Employees: 569