As renewable sources of energy find their way into homes, vehicles, and industries, innovations in battery technology gain traction.
FREMONT, CA: The Nobel Prize in Chemistry this year was conferred to John Goodenough, M. Stanley Whittingham, and Akira Yoshino for their work to develop battery technology. The awards point to the value that innovations in battery technology have currently. The precedence of renewable resources of energy like solar and wind is rising. Given the lower reliability of solar and wind energy due to their uncertain and periodic nature, superior storage is essential to build sufficient reserves of energy. Only then can end-users rely on renewable energy and support the withdrawal of conventional sources like fossil fuels. Besides, the growing popularity of electric vehicles is also contributing to the demand for better energy storage in batteries. Some of the latest trends that will mark the energy storage are listed below.
• The Shifting Utilities
The utility industry is making some great strides in the direction of sustainability. As a result, there are some fundamental changes taking place across production, distribution, and transmission infrastructure, as well as operating technologies. A major change has been seen in the approach of electric utility companies towards the adoption of solar. By refurbishing grids and allowing the inclusion of distributed energy resources, service providers are creating opportunities for new energy models. Enhancing storage facilities is central to these developments. Today, utility companies are looking to invest substantially in battery storage that can store large amounts of solar energy. The demand for high capacity batteries will drive the energy storage technology market and lead to rapid innovations in the sector.
• The Demand for Safe and Resilient Energy Infrastructure
While sustainability is a major factor driving the electric utilities, the safety aspect is also substantial. Evolving regulations mark one of the trends in battery technology. Some recent instances of accidents at energy storage facilities have brought storage technology under scrutiny. Thus, standard safety regulations are a must for innovative, high capacity batteries. Various regulatory bodies and governments are currently considering the finalizations of safety regulations. A predetermined way of testing, criteria regarding the location of battery manufacturing and commercial-scale energy storage facilities, and other regulations that systemize storage technologies are expected to take shape rapidly. The battery industry will have to consider and comply with safety norms.
• The emergence of New Battery Technologies
The escalating demands for energy storage technologies have sparked a lot of innovations. Labs across the globe are testing potential battery technologies. The development of lithium-ion batteries started the movement, which has now picked up the pace and resulted in the creation of alternative cells. Zinc is one of the most sought-after materials currently owing to the enhancements it brings. Besides, newer applications of battery technology have also gained ground. Battery suppliers are constantly vying to enhance capacities and stay ahead in the competition.
• The Push for Green Energy
From aware citizens to responsible governments, everybody is prioritizing environmental safety. Automobile companies realize that conventional combustion engines will gradually lose relevance, and electric mobility will become the norm. Thus, battery technologies will find a large number of takers in the automobile industry as they scale up the production of e-vehicles. The battery requirements of e-vehicles will make automobile makers explore for the best battery technologies available.
Together with the above trends, there has also been a fall in the prices of lithium-ion batteries. As prices dwindle further, industries will quickly adopt battery technologies to enhance energy storage and fulfill modern-day electricity consumption requirement.