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How energy storage could revolutionize industries in the next 10 years

0 POWER INTERNATIONAL ENTERPRISE LIMITED 2020-09-18 23:04:32

What a difference a decade can make. In 2010, batteries powered our phones and computers. By the end of the decade, they are starting to power our cars and houses too.

Over the last ten years, a surge in lithium-ion battery production drove down prices to the point that — for the first time in history — electric vehicles became commercially viable from the standpoint of both cost and performance. The next step, and what will define the next decade, is utility-scale storage battery.

As the immediacy of the climate crisis becomes ever more apparent, batteries hold the key to transitioning to a renewable-fueled world. Solar and wind are playing a greater role in power generation, but without effective energy storage techniques, natural gas and coal are needed for times when the sun isn’t shining or the wind isn’t howling. And so large scale storage is instrumental if society is to shift away from a world dependent on fossil-fuel.

Batteries: the new star of science

Battery technology in its simplest form dates back more than two centuries. The word itself is an umbrella term since batteries come in all shapes and sizes. Lithium-ion batteries — which itself can be a catchall term.

Powering your phone to powering your home

Demand for bigger and better batteries to power electric vehicles has had a ripple effect, including into the home energy storage space. This is especially true as falling solar prices, coupled with government subsidies, have encouraged consumers to switch to renewable sources of power.

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