According to Henbest, senior analyst of Bloomberg New Energy Finance's energy storage business, by 2050, the global investment in the battery market will reach 548 billion US dollars, of which two-thirds will be used for power grids, and the rest will be in electric meters, households and companies.
A report released by Bloomberg New Energy Finance this year emphasized the importance of energy storage to the renewable energy market. Since 2010, the price of lithium-ion energy storage has fallen by 80% per MWh. Due to the accelerated development of the electric vehicle (EV) manufacturing industry, prices are expected to fall further.
The report predicts that “the price of battery packs will drop to US$96/kWh by 2025 and US$70/kWh by 2030. The important countries for battery manufacturing for electric vehicles are my country, the United States, South Korea and Japan. In addition, European production will be further announced in the next few years. So far, most of the activities in Europe have been in Eastern Europe."
It is expected that by 2050, renewable energy will increasingly occupy the existing coal, natural gas and nuclear energy markets. Constantly cost-competitive energy storage batteries will mean that it is increasingly possible to supply electricity through wind and solar energy, "so that even if the wind does not blow and the sun does not shine, these technologies can help meet demand.
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