Energy storage could emerge as the hottest market of 2022
The battery storage industry is getting billions poured into gigafactories, with new projects popping up left and right
A few years ago, battery energy storage began drawing attention as what one industry executive at the time called the Holy Grail of renewable energy. In the years since, EVs have stolen the spotlight but now battery storage is back, larger than life and, quite likely, twice as expensive.
The ongoing energy crunch in Europe is one good illustration of why, if we are going down the renewable energy path, we need to build battery storage - and a lot of it. One cause of the crunch, admitted unwillingly but still admitted, was lower than usual wind power output. With storage, at least some of that output might have been stored for later use.
The Financial Times reported this month that the battery storage industry is getting billions poured into gigafactories, where battery cells for electric vehicles and storage installations are made. According to the report, energy storage companies...
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