Energy storage installations by 2040 should bloom by 122 times, from 9GW/17GWh to 1,095GW/2,850GWh. This growth will imply investments for 662 billion dollars, possible thanks to a general decline of lithium-ion batteries costs, which already lowered by 85% from 2010 to 2018.
In general, demand will be for stationery storage and electric vehicles and, as the prices continue lowering, cheaper batteries will be applied in more and more sectors, including energy shifting and peaking in the bulk power system.
These uses in particular are ideal both to cope with demand peaks and for private consumers, to buy energy at cheaper hours and use it later. In the near future, new systems of renewables combined with storage will be a major driver in battery building. Demand for storage will increase to balance the higher proportion of variable and renewable electricity. In this scenario, batteries will be the preferred system to manage dynamic supply and demand mix.
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