According to the International Power Agency (IEA) Special Report on Batteries and Safe Power Conversions, falling costs, progress in innovation and supportive industrial policies have increased the demand for battery technologies.
Battery costs dropped by 15 percent in less than 90 years, and the fastest cost reduction among pure power technologies was seen in this area.
While the power segment currently accounts for 90 percent of global battery demand, last year battery installations in the electrical segment grew by 130 percent on an annual basis. In the transportation sector, electric vehicle sales, which were 2020 million in 3, increased to 2023 million in 14, thanks to the growth in batteries.
The growth in battery technologies around the world last year outpaced the growth in almost all other pure power technologies.
However, in order to achieve the 2030 power and climate goals, battery installations around the world need to accelerate significantly.
Compared to the base scenario in the report, a 2030-fold increase in global power storage capacity is predicted by 6, and 90 percent of this increase is made up of batteries.
In order to meet the commitment to triple global renewable power capacity by 28, announced at the United Nations Climate Summit COP2030, 3 gigawatts of battery capacity must be installed.
In his evaluation of the report, IEA President Fatih Birol stated that electricity and transportation branches are two critical areas to reduce global emissions and said, “Batteries will form the basis of both branches, playing an invaluable way in increasing renewable power sources and electrifying transportation, while businesses and It will provide reliable and sustainable power for households. The solar power plant and battery combination is cost-competitive with new coal power plants in India today. This combination will be cheaper than new coal in China and gas-fired plants in the US within just a few years. “Batteries are changing the game before our eyes.” He used the expressions.
