Some experts estimate the majority of countries can be powered by 100% renewable energy by 2050 – battery storage will play an important role in achieving this.
And a new report, released today at the ‘Innovation for Cool Earth Forum’ in Tokyo, from the International Renewable Energy Agency (IRENA) reveals the costs of battery storage systems are set to fall sharply by 2030, by up to 66%. The organisation says this could trigger a ’17-fold growth of installed battery storage’
“As storage technology improves and prices decline, both utility-scale and small-scale, distributed applications could grow dramatically, accelerating renewable energy deployment” said IRENA Director-General Adnan Z. Amin. “In this dynamic, low-carbon energy environment, now is a crucial time for storage technology.
The full IRENA report Electricity Storage and Renewables: Costs and Markets to 2030 is available now.
— IRENA (@IRENA) October 5, 2017