Batteries

    When it comes to low-carbon futures, batteries are the game changer. Without effective energy storage at scale, renewables will remain peripheral. But the revolution is already happening. Lithium ion batteries cost 85% less than in 2010 and prices will halve again by 2030. Installation is expected to grow 122-fold by 2040, according to BloombergNEF, creating investment opportunities of $622bn (up by $40bn from their last estimate). Most of this growth will be in utility scale storage, like Tesla’s new Megapack and GE’s Reservoir, but linking domestic batteries to the grid is also happening, like Social Energy in the UK.

    — Wayne Visser

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