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Energy Storage May Save U.K. Consumers $3.35 Billion by 2030

  • Report funded by three utilities supplying electricity
  • Government to explore removing red tape for storage technology
TREGELE, UNITED KINGDOM - OCTOBER 23: A pylon carries electricty from the Wylfa nuclear power station on October 23, 2013 in Tregele, Anglesey, United Kingdom. The government has announced that the first new nuclear power station will be built in Britain since 1995 will be at Hinkley Point near Bristol. The announcement will come as welcome news for Japanese company Hitachi who have proposed a new Wylfa reactor.
Photographer: Christopher Furlong/Getty Images

Energy storage technologies may save U.K. consumers as much as 2.4 billion pounds ($3.35 billion) a year by 2030, according to a new report funded by three utilities.

By curbing the need for grid upgrades and boosting use of wind turbine and solar panels, energy storage could deliver savings equal to about 50 pounds a year for households, EON AG, SSE Plc and Scottish Power Ltd.said in a report Wednesday. The paper was written by the Carbon Trust, an organization that helps companies reduce their greenhouse gas emissions.