Traditional underground compressed air energy storage (CAES), which is one of
only two proven long-duration bulk storage technologies, has been commercially
available for more than 30 years. While no new CAES plants have been
deployed since 1991, project activity and interest in the technology has grown
in recent years, and higher-efficiency next-generation CAES technology is also
nearing commercialization. According to a new report from Navigant Research, more than 11
gigawatts of CAES capacity will be installed worldwide from 2013 to 2023.