Energy storage systems in Russia: an injection of sustainable development

The sector of electrochemical storage systems has been developing rapidly and claims to be the key driver of investment activities in the energy sector. Climate agenda and gradual transition to carbon free economy are shaping new global trends and storage systems seem to be the “panacea”: they are being deployed in carbon free electric vehicles and help to integrate renewable energy sources into existing power system.

Production of Li-ion batteries will double by 2023 creating a critical need for raw materials such as nickel, cobalt, lithium and vanadium and stimulating development of related technologies. Compared to OECD countries, which are struggling for leadership in power sector and automobile industry, Russia currently does not take significant steps to form necessary regulatory framework in order to create capital-intensive national manufacturing facilities and knowledge basis in a brand new sector.

Should government stimulate a manufacturing of national energy storage systems and EV markets development? Which regulatory measures should be adopted and how to do it efficiently? Which role will Russia likely play in the global EV and storage market? You will find answers to these questions in the new “VYGON Consulting” research paper “Energy storage systems in Russia: an injection of sustainable development”.