Away from fossil sources
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There are huge investments in the technology, which means that companies and governments thus move away from fossil sources and invest in sustainable battery storage.
This leads to growth for the electricity companies with battery solutions in Europe, the Middle East and Africa, among others, says Oilprice.
China has taken on the leader jersey in the area with installed 100 GWh of new battery capacity last year, followed by US 35 GWh.
Large increase in one year
Other countries such as Germany, Australia and the United Kingdom followed, and a total of 200 GWh was added in 2024, only for one year.
Through the rapid increase that is now happening, it looks like the global battery storage capacity can be noded by 2040 and land on over 4 Tw, according to Norwegian energy consultant Rystad.
The storage cost decreases rapidly
The cost of storing energy in batteries has collapsed as energy prices have gone down, where Rystad estimates that the global average cost of battery storage decreased to less than $ 300 per kWh last year.
If it decreases further, the cost of storing electricity may end up at a low $ 60 per MWh.
Then the electricity companies will be able to raise more money on the technology and dump fossil sources more and more.
Countries do not want to slip after
Many new projects are being rolled out where countries and companies do not want to fall behind in terms of investments that appear to increase by 35 percent in 2025.
In the past, many companies hesitated to invest fully in, for example, solar energy, as there were not enough battery storage opportunities to back up the technology.
However, the development is so fast that the cost of running solar energy in, for example, Germany with integrated battery storage has now become cheaper than the corresponding cost for gas -fired power plants.
24-hour solar cell project
The investments have led and the world’s first 24-hour solar cell project will be rolled out in Abu Dhabi shortly.
It is about the energy company Masdar, which develops 19 GWh of battery capacity in the project, which is in place in 2 years.
The cost of $ 6 billion is no wonder – when storage batteries are the future.
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