Bloomberg New Energy Finance recently compared the growth of lithium-ion energy storage systems to the solar photovoltaic industry; finding that some 12 years will be needed before the total ESS output can meet today’s solar output (provided of course that was the goal of today’s solar industry).
The biggest ally of energy storage, giving the segment enough momentum to narrow the gap with PVs is of course, electric vehicles, which help to drive up the scale of production for lithium-ion batteries, and enables faster cost reductions.
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