Electric power systems are rapidly shifting from fossil fuels to renewable energy sources. Shifting the entire electrical grid power system to renewable energy sources such as hydro, wind, and solar is a complex task. Renewable energy sources have unpredictable energy generation profiles, thus, efficient energy storage systems are needed to handle the load fluctuations.
Within the energy storage market, batteries are the fastest-growing technology because of their modularity and scalability. Today’s market is dominated by two technologies: lithium and lead-acid batteries. These alternatives are neither safe nor reasonably priced.