Next generation of advanced battery energy storage

July 16 [Tue], 2013, 16:40
Lithium ion batteries, which currently lead the market for advanced batteries in applications ranging from consumer electronics to electrified transportation, represent a significant step beyond conventional lead-acid technology. The technology, however, still falls short of market needs in terms of both technical cheap VGP-BPS13A/S performance and cost. These shortcomings and potential future demand for energy storage are driving innovation in the next generation of advanced battery energy storage.

The goal of this innovation is to find lower cost raw materials and increase lifecycle expectations – both of which, in turn, will enable lower capital costs and lower total cost of ownership across all battery applications. Both electrified transportation and stationary storage demand lower price points to enable full electrification.

Only through advances in materials science and manufacturing, delivering higher energy densities, using lower cost materials, producing systems that will last at least twice as long as commercially available battery products, can these cost reductions be achieved. Over the next 7 years, Pike Research forecasts, those advances will drive sharp increases in the installed capacity of advanced batteries for cheap VGP-BPS13AB grid-scale applications – growing from a few hundred megawatts (MW) in 2013 to more than 10,000 MW in 2020.

This research brief details the state of the advanced battery industry today and examines the materials and design innovations that have the potential to revolutionize the energy storage industry. Forecasts for total capacity of advanced batteries and for investment in grid-scale advanced batteries are included through 2020. In addition, the research brief profiles the key players in this rapidly evolving sector.
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