Batteries, the foot soldiers of the clean technology revolution, are on track for explosive growth in the coming decades. As electric vehicles zoom onto the scene and energy storage systems take root, demand for this crucial technology is surging. While lithium-ion reigns supreme today, a vibrant research landscape explores alternatives like solid-state, sodium-ion, and flow batteries.
But conquering barriers like limited EV range requires more than just capacity hikes. Advancements in safety, management systems, and innovative technologies are key. Prologium's $1.6 billion gigafactory in France and Toyota's 2030 solid-state target are testaments to this quest.
These breakthroughs will not only extend battery capabilities but also bring down costs, a critical factor in the clean energy transition. With the 97% drop in lithium-ion cell prices since 1991 from $7500 per kilowatt-hour to just $181, batteries are becoming ever more accessible. As alternative and improved lithium-ion options join the fray, market forces will further nudge the price equilibrium towards cleaner energy solutions.
