BOOM COMING IN ADVANCED BATTERIES

Advanced Batteries For Utility-Scale Energy Storage To See Revenue Surge

February 18, 2014 (Up Front via Renew Grid)

"Worldwide revenue from advanced batteries for utility-scale energy storage applications will grow from $164 million this year to more than $2.5 billion in 2023, according to a new report by Navigant Research…[E]nergy capacity is expected to grow from 248.1 MWh to 8.5 GWh…[B]atteries have not traditionally been an integral part of the utility grid, primarily due to concerns about cost, safety, durability and efficiency…[But] technological advances in electrochemistry have enabled a new generation of advanced [Lithium ion, flow, sodium-based, and lead-acid] batteries to start playing an important role in grid management…[T]he clear market leader in utility-scale applications of batteries is Li-ion…[including] lithium manganese spinel, lithium iron phosphate, lithium nickel manganese cobalt and lithium titanate…[The] Asia Pacific will experience the highest growth and highest volume of sales…” click here for more

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