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The steady decline in battery costs, as well as the increase in capacity and the use of clean energy, will result in a global energy storage booming over the next two years. decades, which will require total investments of up to US $ 662 billion.
This is one of the main conclusions of the latest report on new energies by the BloombergNEF research firm (BNEF) released this week.
According to the latest BNEF forecasts, global energy storage facilities are expected to reach 1,095 GW, or 2,850 GWh, by 2040, compared to a currently modest deployment of only 9 GW / 17 GWh.
Unsurprisingly, the main driver of the boom in energy storage facilities will be lowering the cost of lithium-ion batteries, which will financially justify the additional use of storage facilities and immersed energy storage facilities.
According to BNEF, the costs of lithium-ion batteries have dropped by 85% between 2010 and 2018, with battery costs still falling by half per kilowatt-hour by 2030, thanks to growing demand from two markets – the stationary storage and electric vehicles).
In this year 's energy storage report, BNEF has increased its global investment estimates in storage by more than $ 40 billion, said Yayoi Sekine, a storage badyst with the company. energy for the BNEF and co-author of the report. The other major change in BNEF's forecast this year is that badysts now believe that most of the energy storage capacity will be "the size of the utility, rather than behind the counter in homes and businesses". Related: Bakken oil boom faces new bottleneck
Geographically, South Korea is currently the market leader, but it will soon divest the crown to China and the United States, which will be the two largest markets for energy storage in two decades. India, Germany, Latin America, South East Asia, France, Australia and the United Kingdom will be the other main hot spots for energy storage facilities, according to the BNEF .
Source: BloombergNEF
Cheaper batteries will also result in more battery applications in global energy systems, including the distribution of renewable electricity back to the grid and the peak of the power system. in bulk to cope with peak demand, according to BNEF badysis.
"In the short term, more renewable storage, especially more solar storage, has become an essential engine of battery construction. It's a new era of distributable renewables, based on new contract structures between developer and network, "said Logan Goldie-Scot, head of energy storage. to the BNEF, commenting on the report.
Earlier this year, John Deutch, a professor at MIT, suggested that a renewable hybrid power generation system combining wind, solar and storage could become competitive with electricity generated from fossil fuels cheapest in the United States – combined cycle natural gas production. Related: Is algal biofuel a lost cause?
Over the past year, several companies have announced plans to build solar storage and solar power systems around the world, from Australia to Arizona, to the heart of the Permian oil region in the world. West Texas.
While battery and renewable energy production costs continue to decline, utilities are looking to combine solar farms with battery storage to increase the predictability of renewable energy production. Power utilities have therefore launched an unofficial global competition for the construction of the world's largest solar storage and solar energy facility.
According to the BNEF report, the exponential increase in the use of renewable electricity and electric vehicles will transform global energy systems and the transport sector, boosting the demand for energy storage.
Wind and solar power is expected to account for nearly 40% of global electricity production in 2040, compared to only 7% today. At the same time, electric vehicles could account for one-third of the world's pbadenger car fleet by 2040, compared to less than 0.5% at present, according to BNEF.
"The report estimates that energy storage will become a practical alternative to generating electricity or strengthening new construction networks," badysts said.
By Tsvetana Paraskova for Oilprice.com
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