Corre Energy is fundamentally addressing the misallocation and hoarding of capital by the traditional industry, providing a new-market ecosystem from which any provider or consumer of energy storage can access.The effect is to enable investment into storage assets, which Corre Energy is developing with co-investors and strategic partners. The potential pipeline of mass-storage projects globally is substantial with adequate funding.
According to the IPCC, the energy sector is the largest contributor to global greenhouse gas emissions. Accordingly, the International Energy Agency (IEA), estimates that approximately 310 GW of additional grid connected storage in the US, Europe, China and India alone is needed to meet the target of a 2 °C limit; globally it could be closer to 500-600 GW.The storage of renewables could deliver substantial social value in the order of €1+ trillion, considering proxy estimates for the societal value of storage in high renewables systems, alongside highly attractive financial returns, and a substantial positive impact on the environment.
The failure of global electricity markets to provide sustainable, secure and affordable energy for consumers is deep and multi-faceted. The core problem is unbalanced market access and high embedded costs.These problems are made more difficult to solve without mass-energy storage. Corre Energy offers a radical shift to a customer-centric platform, enabled by energy storage in the cloud can circumvent the embedded costs of the legacy system and create value for all.