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The battery energy storage market will grow rapidly

Thursday, January 5, 2023

Significance

Anticipating a surge in demand, the EU and Washington are incentivising greater electricity storage while research scientists and manufacturers look at efficient, cheaper and more environmentally friendly alternatives to the standard lithium-ion battery.

Impacts

  • Universities will play a greater role in breakthrough technologies while the private sector will focus on improving current technologies.
  • The focus is on improving performance, but lowering purchase costs would hasten adoption and improve access to energy storage innovations.
  • Efforts will grow to develop and demonstrate profitable solutions for collecting, storing and transporting spent lithium-ion batteries.

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