Battery Cost Drop Opens New Energy Era
Battery Storage Costs Drop Dramatically, Making Way to a New Era; A recent report continues to confirm that clean electrification through batteries is advancing at impressive rates.
Fabienne Lang, November 26, 2019 (Interesting Engineering)
“Clean electrification of transport vehicles is advancing at impressive, and rapid, rates…[E]xploding investment in battery technologies is revolutionizing the sector much faster than expected and setting in motion a seismic shift in how we will power our lives and organize energy systems as early as 2030…[Based on data from the U.S., the E.U., China, and India, a new report found] the more than $1.4 billion invested in battery technologies in the first half of 2019 alone, massive investments in battery manufacturing and steady advances in technology have set in motion a seismic shift in how we will organize energy systems as early as 2030…
[It] will, by 2021,] push solar and wind power forward, and cut back the use of fossil fuels more quickly…[The three main takeaway points from the RMI report are that battery] cost and performance improvements are quickly outpacing forecasts…These improvements spell trouble for natural gas and internal combustion engine vehicle markets…Lithium-ion, while still the leading batter technology, is likely not the universal solution of future energy storage technologies…” click here for more