Energy Evolution
Emerging battery technologies: Alternative long-term energy storage solutions on the rise
Nov 22, 2023
Exploring alternative long-term energy storage technologies to fill the flexibility gap in renewable energy, including the limitations of lithium-ion batteries and the rise of scalable solutions like flow batteries and compressed energy storage. The impact of industry growth on battery metal prices, challenges in energy storage adoption, and the forecasted growth of global energy storage installations by 2030.
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Quick takeaways
- Alternative long-term storage technologies are crucial for managing renewable energy intermittency beyond lithium-ion capabilities.
- Non-lithium based batteries like sodium-ion offer advantages in safety, cost, and raw material abundance over lithium-ion batteries.
Deep dives
The Importance of Energy Storage Solutions
Energy storage solutions are crucial for the global energy transition, particularly in managing the intermittency of renewable energy sources. Lithium-ion batteries have emerged as a key technology for storing excess energy and managing fluctuations in renewable power. The increasing demand for clean energy to power electric vehicles (EVs) highlights the importance of efficient energy storage solutions. While lithium-ion batteries have dominated the market, there is a growing need for longer duration storage beyond their capabilities.
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