A new Rocky Mountain Institute report released at the end of October, Breakthrough Batteries Powering the Era of Clean Electrification, confirms that exploding investment in battery technologies is revolutionizing the sector much faster than expected and setting in motion a seismic shift in how we will power our lives and organize energy systems as early as 2030.
Advanced battery technologies have the power to out-compete many fossil-fueled energy systems in the near term and can help us meet ambitious carbon reduction goals on or ahead of schedule.
These changes are already contributing to cancellations of planned natural-gas power generation,” states the report.
“The need for these new natural-gas plants can be offset through clean-energy portfolios (CEPs) of energy storage, efficiency, renewable energy, and demand response.
Key takeaways from RMI researchers:
- Battery cost and performance improvements are quickly outpacing forecasts.
- These improvements spell trouble for natural gas and internal combustion engine vehicle markets.
- Lithium-ion, while still the leading battery technology, is likely not the universal solution of future energy storage technologies.
All together, the fundamental message is clear: dropping battery costs will continue to make Tesla vehicles more competitive with the main market.
Reference- Clean Technica, RMI report, Forbes