The Economist writes about the market outlook of grid-scale batteries.
- Grid-scale battery storage is rapidly expanding, with global capacity expected to grow from 200GW in 2023 to over 1TW by 2030, driven by falling prices and new technologies.
- China dominates battery production, but overcapacity is leading to industry consolidation and spurring innovation in alternatives like sodium-ion batteries.
- The growing demand for renewable energy to power data centers is accelerating the adoption of grid-scale storage solutions, particularly longer-duration batteries.
“Incumbents are rushing to develop the technology for the grid, and several startups are betting big on it, too. Natron, an American firm backed by Chevron, an oil giant, is investing $1.4bn to build a sodium-ion battery factory in North Carolina, which is scheduled to open in 2027. Landon Mossburg, the chief executive of Peak Energy, another sodium-ion startup, says he wants his firm to be ‘the CATL of America.'”
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