Battery Technology Evolving Faster than Expected

The Rocky Mountain Institute (RMI) released a study adding to the renewables story: the technology behind batteries are improving faster – and with prices continuing to fall, transitioning to 100% will become easier.

 

Key Takeaways:

  • From January to June of 2019, nearly $1.5 billion dollars has been invested in battery technology improvements
  • RMI forecasts a reduction of over 50% in capital costs over the next 4 years for newly planned battery-manufacturing capacity
  • Beyond lithium-ion: the United States will likely become a global leader in the battery industry as a push for new tech stimulates innovation

 

Path to 100% Perspective:

Energy storage is fast becoming a standard with new build-outs of solar projects – these hybrid (solar + storage) plants are becoming cheaper to build given the advancements in battery technology.  Couple this with a push to think outside the lithium-ion box and the future looks to be constantly expanding for ways to address the need for long-duration energy storage.  Such long-duration storage solutions will be the key in making society’s path to 100% easier to achieve.  Learn more from what we’re reading on Smart Energy International entitled “Battery technology improvements outpacing forecasts.”