Is this the year of the battery? CNBC’s Pippa Stevens says no, we are in a battery decade set to revolutionize industries in ways we never knew. Who could have thought of this when we started our blog on April 29, 2014 with a post about a sugar battery? Today we review two highly significant achievements, before scanning the future.
Two Major Achievements of the Past Battery Decade
Pippa Stevens singles out these two triumphs for special attention:
- Lithium-ion prices have fallen 85%, making storage and EV’s commercially feasible.
- And as a result batteries became a major player in the shift away from fossil dependence.
Two More Opportunities in the Ten Years That Follow
These two opportunities await investors in the new battery decade:
- UBS Financial Services predicts the U.S. energy storage market could increase to $426 billion.
- This will offer investors multiple opportunities, including battery makers and EV companies.
However, Rocky Mountain Institute warns those players need to take ‘an ecosystem approach’ while capturing the investment opportunity. Because our earth must have a say too.
What a Difference a Decade Can Make
Back in 2010, lead-acid batteries electro-started our petroleum vehicles, and secured our uninterruptible power supplies. Meanwhile the new kids on the block, lithium batteries took care of our laptops and phones.
But the new battery decade rolling out should see far more dramatic interventions. Here we imagine a new generation of truly-affordable electric cars, and the increasing surrender of fossil fuel to renewables for utility-grade storage.
Batteries will continue to be the key to that transition to a green energy world, as we begin to reverse the damage fossil-fuels have caused. That’s because batteries are the only way we know to compensate for our variable climate, and a perpetual cycle of night and day. We can’t wait for the next phase of this story to unfold!
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