The future of renewable energy relies directly on the strength, quality, and longevity of energy storage technologies. Advances in energy storage technology have the potential to positively affect the energy distribution and transmission systems (smart grid), our energy consumption (electric vehicles), make electricity more reliable and available, and improve power grid efficiency. Because of the potential world changing effects of advancements in energy storage, this sector will have implications to the auto and energy industries, commercial and residential energy consumers.
Technologies around lithium ion batteries are expected to significantly increase in capacity in the next decade. As this happens, electric vehicles will become more cost competitive with internal combustion engines, the power grid can be strengthened – reducing cost of meeting peak demand and facilitating feeds from wind or solar generators, and billions of people living in developing countries with limited access to electricity can be given access to affordable energy.
German-based Sonnenbatterie discusses opening their R&D facility in Georgia and how they are paving the way for energy storage. Featuring Costas Simoglou, director of the Georgia Center of Innovation for Energy Technology.