Great Britain must increase its energy storage capacity 10-fold if it is to meet its net zero goals, new research from Drax reveals today. The analysis, drawn up by Imperial College London on behalf of the energy giant, estimates Britain needs at least 30GW of energy storage to meet its climate goals, up from 3GW today. Energy storage technologies including batteries and pumped hydro will be crucial for ensuring the power grid can operate with a much higher proportion of variable renewable power sources such as wind and solar, Drax explained.
Business Green 4th Dec 2019 read more »
Tumbling battery prices will mean that electric vehicles (EVs) reach cost parity with internal combustion engine vehicles by 2023, according to a report out today by analysts at Bloomberg New Energy Finance (BNEF). Battery prices were above $1,100 per kilowatt-hour in 2010, but since then have plummeted by 87 per cent in real terms to $156/kWh. Prices have fallen 13 per cent since 2018 alone, and BNEF is now predicting that they will be close to $100/kWh by 2023 as cumulative demand passes 2TWh.
Business Green 3rd Dec 2019 read more »
Battery prices, which were above $1,100 per kilowatt-hour in 2010, have fallen 87% in real terms to $156/kWh in 2019. By 2023, average prices will be close to $100/kWh, according to the latest forecast from research company BloombergNEF (BNEF).
Bloomberg 3rd Dec 2019 read more »