The Battery Revolution Is Here To Stay
Battery technology has emerged as the clear front runner in the sustainable energy revolution. The growth in electric vehicles and renewable energy sources will drive a tenfold increase in global lithium-ion battery production to more than 200 GWh within a decade.
In the meantime, wind, solar, and other renewable energy sources are growing rapidly and will require energy storage technology for effective grid-scale operation. It is estimated that these two trends will drive a tenfold increase in global lithium-ion battery production to more than 200 GWh within a decade.
Lithium-ion batteries are remarkable because the same fundamental technology can be used in many different applications including hybrid and all-electric vehicles, smartphones, and grid or home-based energy storage. Today, over two billion rechargeable lithium-ion batteries are produced each year.