Global investment into energy storage technologies including batteries is set to reach $1.2trn by 2040 as technology costs fall, according to new research by Bloomberg New Energy Finance (BNEF). Released on Tuesday (6 November), BNEF’s latest long-term energy storage outlook predicts that the global energy storage will grow to reach a cumulative 942GW/2 or 857GWh by 2040, with research, development and project installation being backed with more than $1.2trn from the investment community over the next 22 years. The analysis attributes this prediction to an anticipated fall in the cost of battery technologies, with such devices expected to cost 52% less in 2030 than they do now, according to BNEF.
Edie 9th Nov 2018 read more »