5 trends battery technology
These home battery trends can make our energy future green.
We need battery technology to transform fully into a solar economy.
The good news is that battery technology and energy storage are also hitting an inflection point.
Here are 5 trends shaping the future of battery technology and energy storage.
- Lithium-ion Technology
Lithium-ion batteries have been seeing rapidly declining prices for more than 20 years, dropping in price for consumer electronic uses by 90 percent between 1990 and 2005, and continuing to drop since then. This price reduction is coupled with an 11x increase in battery storage capacity per $100 since 2000.
- Scaled Production
The rollout of Tesla’s Gigafactory makes $100 per kwh lithium-ion batteries in electric vehicles possible by 2020. This price point would allow you to fill up the equivalent of a tank of gas for $9.35.
- Flow Batteries
Flow batteries are just starting to come to market and have been proven in the lab to operate for 5,000 charge cycles or more. This is a 10x improvement over standard consumer lithium-ion batteries.
- Compressed Air Storage
Companies like LightSail Energy are creating physical components rated for 10,000+ charge cycles.
- Time of Use Arbitrage
The U.S. is increasingly going to time-of-use charges for electricity. Right now that means charging consumers a low rate in the middle of the night (when demand is low) and a high rate in the afternoon and early evening (when demand is at its peak).
Peter Diamandis mentioned in his post that Solar, Batteries and EVs will disrupt the $6 trillion energy industry:
(…)The convergence of solar, energy storage, and electric vehicles creates a trifecta of disruptive forces hitting the energy industry over the next two decades.
We’re going to see a mindset shift in the near future. It will just be accepted that every home will be powered by a combination of batteries, rooftop solar and electric vehicles (i.e. Tesla’s vision)… and we’ll gawk disapprovingly at the idea of driving an explosive, expensive and environmentally damaging gas vehicle, and so on.
This is an incredibly exciting time for the energy industry, and an incredibly exciting time to be alive. (…)
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