Long duration energy storage (LDES) is a critical component of future energy systems. It stores energy for when it is needed most, enabling high penetration of renewable generation, industrial decarbonisation and reliable, secure and affordable energy for consumers. LDES stores and dispatches energy as power, heat or cooling for extended periods ranging from 8 hours to days, weeks or seasons.
LDES is currently being deployed commercially on six continents across multiple technology types. However, it is not being deployed at the scale required to meet global and national decarbonisation, energy security and affordability goals. The LDES Council estimates that ~2 GW will be required by 2030 and up to 8 TW by 2040, implying a 50x scale-up from today’s pace. A significant barrier is a lack of bankability.
To understand the core issues around bankability, the LDES Council, in collaboration with Teneo, conducted two workshops in 2025, one in London and a second in New York City, with investors and technology providers to identify best practices for addressing bankability challenges.
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