E.ON Promotes Energy Storage

  • Key technology for renewables and point-of-use energy supply
  • € 6 million funding for 10 projects
  • Research Minister Schavan welcomes E.ON commitment

"Energy storage is key to the further development of renewables. E.ON intends to double their share to almost a quarter of the energy mix by 2030. Up to 2010 alone we will invest at least € 6 billion in this area. However, to make better use of renewables, we must also tackle the problem that they are not yet able to meet baseload demand. For this we need innovative storage technologies," said Wulf H. Bernotat, CEO of E.ON AG.

Together with Research Minister Annette Schavan, Mr. Bernotat presented the new E.ON Research Award in Berlin to 10 outstanding projects by international universities and institutes. This year the award goes to projects dealing with different methods of energy storage: ranging from highly efficient batteries and new heat storage devices for point-of-use cogeneration systems through the use of electric vehicles as mobile storage units to compressed-air storage systems on the seabed.

Research Minister Schavan welcomed E.ON’s commitment: "Energy research provides for the future. Only innovative technologies will make sustainable energy supply possible. Security of supply, economic viability, climate and environmental compatibility are the keywords in this respect. We must intensify our efforts in energy research and for this purpose pool the resources of industry and science even more." The Minister stressed that E.ON was following the right path: "This long-term commitment to promoting excellent research groups at universities and research institutes is exemplary."

Energy storage is the first topic of the E.ON research initiative, under which the company is making € 60 million available over the next 10 years for research projects with different priorities. E.ON is seizing the initiative in the field of energy research in order to contribute towards solving key problems of energy supply. The funding does not require contract research to be carried out for E.ON. The research findings remain the researchers’ property and are made available to the public by means of publications.

It is necessary to store energy on a large scale if renewables like wind energy, which only produces electricity under favourable wind conditions, can make their full contribution to power supply. The idea is this: The energy is used to charge batteries or is converted, for instance into compressed air, and can then be retrieved when the rotors are not turning. This would enable renewables to contribute constantly to power supply.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON AG does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.