Global Energy Storage Boom

Energy Storage Is A $1.2 Trillion Investment Opportunity To 2040

November 6, 2018 (Bloomberg New Energy Finance)

“The tumbling cost of batteries is set to drive a boom in the installation of energy storage systems around the world in the years from now to 2040…The global energy storage market[1] will grow to a cumulative 942GW/2,857GWh by 2040, attracting $1.2 trillion in investment over the next 22 years. Cheap batteries mean that wind and solar will increasingly be able to run when the wind isn’t blowing and the sun isn’t shining…[T]he capital cost of a utility-scale lithium-ion battery storage system sliding another 52% between 2018 and 2030, on top of the steep declines seen earlier this decade. This will transform the economic case for batteries in both the vehicle and the electricity sector…[Behind-the-meter installations] will be sited at business and industrial premises, and at millions of residential properties…[and] perform a variety of tasks, including shifting grid demand in order to reduce electricity costs, storing excess rooftop solar output, improving power quality and reliability, and earning fees for helping to smooth voltage on the grid…” click here for more

click to enlarge

Tweet