Over the last decade, a surge in lithium-ion battery production has led to an 85% decline in prices, making electric vehicles and energy storage commercially viable for the first time in history. Batteries hold the key to transitioning away from fossil fuel dependence, and are set to play a greater role in the coming decade.
UBS estimates that over the next ten years the energy storage market in the United States could grow to as much as $426 billion, and there are many ways to buy into the surge, including chemical companies, battery cell makers, car companies, solar companies, and utility companies.
“Capturing the massive economic opportunity underlying the shift to controls and battery-based energy systems requires that planners, policymakers, regulators, and investors take an ecosystem approach to developing these markets,” sustainability-focused research firm Rocky Mountain Institute said recently.
Name of Author: Pippa Stevens