Overview
Grid-scale battery storage is transforming energy systems by storing renewable energy for use when the sun is not shining or wind is not blowing. Lithium-ion battery costs have fallen 97% since 1991. Emerging technologies include solid-state batteries, iron-air batteries, and flow batteries offering longer duration storage. Battery energy storage systems (BESS) stabilize grids, reduce peak demand charges, and enable higher renewable energy penetration. The global energy storage market is projected to grow 15x by 2030.
Tags
batteriesenergy storagegrid stabilitylithium-ion
Economic Impact
High Impact
97% cost decline since 1991, enabling $100B+ annual investment in storage infrastructure.
Emerged
2015
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