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Scientists and engineers have long believed that batteries can change the world
.
Energy storage is finally starting to make this dream a reality
.
Advanced batteries are starting to move out of the lab and into the "gigafactory.
"
They have gradually moved from niche markets to mainstream markets
.
This marks an inflection point for forward-looking technologies such as electric vehicles and rooftop solar panels
.
According to Boston-based Lux Research, energy storage today is a $33 billion global industry
.
By the end of the second decade of this century, the industry will be worth more than $50 billion and will generate 160 million kilowatt-hours
of electricity annually.
However, in the huge energy industry, this is only equivalent to a No.
9 battery
.
But even so, it is enough to attract the attention of large companies that would not have been interested in this in the first place
.
Like the solar panels, which the battery industry heavily promotes, batteries must compete with
entrenched mainstream energy sources, piston engines, power plant turbines and other infrastructure associated with it.
At the same time, as with solar panels, the cost of batteries has dropped
significantly in recent years.
This trend will continue
as manufacturers expand production scale, adjust financing, and improve efficiency.
12Next View full article
Scientists and engineers have long believed that batteries can change the world
.
Energy storage is finally starting to make this dream a reality
.
Advanced batteries are starting to move out of the lab and into the "gigafactory.
"
They have gradually moved from niche markets to mainstream markets
.
This marks an inflection point for forward-looking technologies such as electric vehicles and rooftop solar panels
.
According to Boston-based Lux Research, energy storage today is a $33 billion global industry
.
By the end of the second decade of this century, the industry will be worth more than $50 billion and will generate 160 million kilowatt-hours
of electricity annually.
However, in the huge energy industry, this is only equivalent to a No.
9 battery
.
But even so, it is enough to attract the attention of large companies that would not have been interested in this in the first place
.
Like the solar panels, which the battery industry heavily promotes, batteries must compete with
entrenched mainstream energy sources, piston engines, power plant turbines and other infrastructure associated with it.
At the same time, as with solar panels, the cost of batteries has dropped
significantly in recent years.
This trend will continue
as manufacturers expand production scale, adjust financing, and improve efficiency.
12Next View full article
12Next View full article
