batteries are key to clean energy — and they just got much cheaper - lithium ion battery price
Batteries are critical to our future of clean energy.
Fortunately, their costs have fallen so low that we may be closer to the future than we thought before.
In less than a year, the cost of lithium
According to a new report from Bloomberg New Energy Finance, ion batteries have dropped by 35%.
Cheaper Batteries mean that even if the sun is not bright or the wind is not blowing, we can store more solar and wind energy.
This is a major push for renewable energy to help them compete with fossil fuels --
Even if there is no subsidy in some places, electricity will be generated, the report said. Massive solar-plus-
Storage projects like Florida and California are already replacing natural gas, and more are under construction.
Elena giannakopooulou, the leader of Bloomberg's new energy economy Group, said the price of new batteries was "an alarming increase ".
Previous estimates expect the battery to reach this breakthrough point by the end of 2020, rather than early 2019.
It is reported that the cost of wind power and solar power is also falling sharply --
Since last year, it has grown by 10 to 24% depending on the technology.
These figures are based on actual projects being built in 46 countries around the world.
Lower battery prices also have a big impact on electric vehicles.
The key cost threshold is about $100 per kWh, at which point electric cars will be cheap enough to quickly replace gasoline.
At this rate, we will achieve this goal in less than five years.
Now that cheap batteries are finally here, we are moving towards electric transportation.
Renewable energy
Not too fast either.
Giannakopooulou quoted "technological innovation, economies of scale, fierce price competition and manufacturing experience ".
Other storage methods, such as pumping water and electricity, still occupy the vast majority of energy storage capacity, but lithium-
Ion batteries are more flexible and do not require specific location or environmental conditions when working.
Like everything in the building environment, lithium
Ion batteries also need to be mined and manufactured.
Some new and exotic battery technologies are still likely to replace lithium quickly-
But it's everywhere, andnow —
Cheap is hard to beat.
It will be cheaper to own and operate electric cars than gas cars.
Electricity prices occasionally fall below zero in places like California, Texas and Germany.
This is a sign that the grid is not ready to deal with the excess of renewable energy produced there.
More cheap electricity will now be stored and delivered to consumers.
This could be the moment when renewable energy starts to shut down fossil fuels forever.