Rapid advancements in battery technology are poised to accelerate the pace of the global energy transition and play a major role in addressing the climate crisis. With more than $1.4 billion invested in battery technologies in the first half of 2019 alone, massive investments in battery manufacturing and steady advances in technology have set in motion a seismic shift in how we will organize energy systems as early as 2030.
According to evidence detailed in RMI’s Breakthrough Batteries Report, cost and performance improvements are quickly outpacing forecasts, as increased demand for electric vehicles (EVs), grid-tied storage, and other emerging applications further fuels the cycle of investment and cost declines and sets the stage for mass adoption.