Worldwide demand for battery energy storage is set to jump to four-times 2015 levels by 2025, according to independent market assessments ordered by the Consortium for Battery Innovation (CBI).
That jump from 100,000 to 400,000Mwh in a decade will be partially fuelled by the transition to electric transportation. However, the group notes that demand for all battery technologies resulting from the massive increases in renewables and related infrastructure.
The report further notes that electricity grids and renewables drive demand for reliable, longer-lasting and safe high-performance batteries. These are goals which can be achieved more economically than was possible before, with increases in battery lifecycles in lead batteries capable of being increased more than five times, thanks to recent advances.
The report suggests that improved battery cycle life would help to significantly reduce operating costs, which it claims are “a key parameter for utility and renewable energy installations”.
As a result, CBI says a greater number of clean energy storage projects would be able to be installed, providing reliable and affordable electricity.
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Dr Alistair Davidson, director of the CBI, said: “We’re in the midst of a revolution in battery technologies as governments look to accelerate their move to low carbon energy sources. We need a range of high-performance batteries for different products and applications to meet this growing trend.
“Our technology innovation plan looks at a short-term boost in battery performance. But we’re also focusing on the next big leap in advanced batteries over the next decade as new forms of lead battery technology come to market.”