Both the transportation and power industry have been facing significant changes, driven by a combination of policy and technological factors, and S&P Global Platts Analytics sees lithium-ion batteries playing an instrumental role in these transformations. When it comes to batteries, there have been and will continue to be synergies of power storage and transport sector battery technology. In the power sector, large deployments of wind and solar photovoltaics will increase the need for storage to manage their intermittency. Recently, the US has seen several RFPs in which developers have bid projects combining solar PV assets and lithium-ion batteries – a trend discussed recently in S&P Global Platts Analytics’ U.S. Power Storage Outlook. Because of the often-siloed nature of the energy sector, there is a need for some perspective regarding the relative size and importance of the sectors. The fact is that energy sector applications of batteries are and will continue to be dominated by uptake in the transport sector. Intuitively, this should not be surprising, as batteries provide for the full energy transport needs of an electric vehicle, but they only play a supporting role to other generating sources in the power sector. Globally, there is currently only 2−4 GWh… continue reading
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Source: CTRM Center