Final answer:
Potential energy storage technologies are key to making renewable energy sources like photovoltaics (PV) more reliable and could provide more cost-effective means of storing electricity in the future. Current energy storage options are not as energy-dense as fossil fuels but are being improved and diversified. Solar thermal systems show promise by having some built-in capacity for energy storage.
Step-by-step explanation:
Do potential energy storage technologies have the potential to provide a cheap way to store electricity? The answer to this question is somewhat complex. Potential energy is stored energy and is integral in various storage technologies that can provide a way to store electricity. It's important to consider both the current capabilities of energy storage technologies and their potential for future improvements when evaluating their cost-effectiveness.
Fossil fuels have historically been the benchmark for energy density and ease of transport, but they come with significant environmental consequences. Photovoltaic (PV) technology, while good at producing electricity and having lower life-cycle CO₂ emissions, is still expensive and suffers from intermittency issues, which makes energy storage a critical area for research and development.
Alternative storage solutions like batteries, flywheels, and solar thermal systems are being explored and have shown promise. Solar thermal systems can store heated oil and produce electricity even when the sun isn't shining, which helps to bridge gaps in energy demand. Despite the challenges of matching the energy density of fossil fuels, energy storage technologies, alongside renewable energy sources, may provide a viable pathway to a sustainable energy future.