Energy storage has the potential to save £2.4 billion ($3.4 billion) a year by 2030 according to a new report from the Carbon Trust.
The report, released on Tuesday and based on analysis from the Carbon Trust and Imperial College London, finds that the United Kingdom could save billions by 2030 "if market arrangements for the electricity system allow for the use of energy storage."
If half of this saving were passed on to domestic consumers, average electricity bills could fall by around £50 a year.
There are three main types of energy storage: bulk, distributed and fast. The International Energy Agency describes energy storage as having potential in terms of helping the planet "achieving a low-carbon future."