Bat­tery prices will go down as per BNEF

Commercial Vehicle - - NEWS -

Lithium-ion bat­ter­ies could wit­ness a drop in prices as per the ‘Long-Term En­ergy Stor­age Out­look’ re­leased re­cently by Bloomberg New En­ergy Fi­nance (BNEF). As per the re­port, bat­tery prices could go down by 52 per cent be­tween 2018 and 2030, cou­pled with the rise of elec­tric ve­hi­cles mar­ket. Ex­pected to drive the global en­ergy stor­age mar­ket growth to a cu­mu­la­tive 857 GWh by 2040 (it isat 198 GWh), the price of a 250 kWh elec­tric bus bat­tery pack, for in­stance, could fall from USD 150,000 in 2016 to USD 38,000 in 2030. The study an­tic­i­pates an in­vest­ment of USD 1.2 tril­lion to be made in the en­ergy stor­age mar­ket by 2040. Ac­cord­ing to Yayoi Sekine, an en­ergy stor­age an­a­lyst for BloombergNEF and co-au­thor of the re­port, the fall in stor­age sys­tems cost will be faster than ex­pected. Sekine cred­its it to elec­tric ve­hi­cle charg­ing and en­ergy ac­cess in re­mote re­gions. Ac­cord­ing to Lo­gan Goldie-Scot, head of en­ergy stor­age at BNEF, en­ergy stor­age is grow­ing to a point where it is equiv­a­lent to seven per cent of the to­tal in­stalled power ca­pac­ity glob­ally in 2040. The ma­jor­ity of stor­age ca­pac­ity will be util­ity-scale un­til the mid2030s when be­hind the me­ter ap­pli­ca­tions over­take. Be­hind The Me­ter (BTM) in­stal­la­tions will be cited at busi­ness and in­dus­trial premises, and at mil­lions of res­i­den­tial prop­er­ties. For their own­ers, they will per­form a va­ri­ety of tasks, in­clud­ing shift­ing grid de­mand in or­der to re­duce elec­tric­ity costs, stor­ing ex­cess rooftop so­lar out­put, im­prov­ing power qual­ity and re­li­a­bil­ity, and earn­ing fees for help­ing to smoothen volt­age on the grid. China, US, In­dia, Ja­pan, Ger­many, France, Aus­tralia, South Ko­rea and the UK are ex­pected to be the lead­ing coun­tries. They are ex­pected to ac­count for two thirds of the in­stalled ca­pac­ity by 2040. In the near-term, South Ko­rea will dom­i­nate the mar­ket. The US will take over in the early 2020s, but will be over­taken by China in the lat­ter 2020s. China will then lead through­out to 2040. De­vel­op­ing coun­tries in Africa will also see rapid growth in bat­tery stor­age, the study out­look ex­pects.

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