Energy Experts Unite: Discussion on Grid Scale Energy Storage Systems
Content from Event Organizers
Significant changes have occurred in the Baltic electricity grid in recent years, driven by major gains in solar and wind power generation. Unfortunately, renewable energy is unpredictable, making it impossible to know precisely how much electricity will be produced tomorrow. Therefore, it is essential to find ways to balance the volatility of intermittent renewable energy production with the necessary energy demand. According to energy experts, a crucial next step in the energy sector is the proper integration of Energy Storage Systems (ESS) into the grid.
To create fair and easily accessible markets for new flexibility resources, certain decisions and incentives from policymakers and responsible energy institutions must first be implemented. The global energy storage industry, including advanced lithium-ion batteries, is expected to grow from 550 gigawatt-hours (GWh) in 2022 to 7,782 GWh by 2040 over the next two decades.
From February 2025, when Lithuania synchronizes with Central Western Europe, the amount of electricity imbalance is expected to increase even further. Thus, to ensure continuous electricity usage, significantly more smart flexibility devices, such as advanced battery storage systems, will be needed than are currently available and used.
On the other hand, due to the unclear regulatory environment, significant investments in large-scale energy storage systems are either being lost or not reaching our country and neighboring Baltic states at all.
The unclear regulatory environment for batteries and storage systems is deterring international investors, which poses a risk of potential substantial electricity supply disruptions as early as next year.
The best solution to these emerging challenges is a unified approach among stakeholders. Therefore, business, legal, and energy development experts have decided to gather Baltic energy specialists for a virtual discussion on September 11 at 10:00 a.m. titled “GRID SCALE ESS Financial Environment in the Baltics: What Are We Missing Today? Next Steps for 2024–2034” to consider and discuss what actions to take to make the Baltic region a favorable area for energy storage system development.
The special virtual event, organized by international energy expert and founder of Linea Ignis Karolis Kiguolis, founding partner of Noewe Legal Robert Juodka, and Executive Director of the Estonian Chamber of Commerce in Lithuania Snieguolė Matonienė, is aimed at Baltic energy specialists and anyone interested in energy. The event will focus on precisely discussing the strategies needed to attract investments in energy storage systems.
According to Karolis Kiguolis, one of the event organizers, there is no shortage of experts in Lithuania and the Baltic states who understand what needs to be changed in the energy sector and who can apply the experience and practices of more advanced countries in this field.
Thus, by addressing unanswered questions and challenges, the event aims to lay a solid foundation for a flexible and secure energy future for the Baltic states.
“To achieve the set goals in renewable energy, plans must be developed and harmonized. Relevant national institutions, including the government, regulatory authorities, and transmission and distribution system operators, should focus on prioritizing the development of coordinated plans. These plans should also address how to remove flexibility barriers.
It is clear that with joint efforts, we can overcome the challenges of decarbonization and significantly reduce carbon dioxide emissions into the atmosphere. However, the time required to change the current situation depends solely on our efforts. That’s why we invite all Baltic energy specialists to discuss energy transformation, tool development imbalances, financial risks of batteries, and strive for effective results together,” says Karolis Kiguolis.
In addition to the organizers, the event will feature experts such as Oskar Alšauskas, Energy Analyst at the International Energy Agency; Donatas Matelionis, Head of the System Control Department at Litgrid; Karlas Kullas, Head of Evecon, a company developing wind and solar parks in the Baltic states; Gatis Junghans, Board Member at Baltic RCC; Darius Daubaras, former Chairman of the Supervisory Board of Ignitis Group; and Tauno Hilimonas, Energy Markets Expert at the Estonian Ministry of Climate.
