Mitalee Gupta

The Asia-Pacific region will certainly remain to be the globe's leading centre of lithium-ion cell production for the following decade, yet it won't just be cost decreases in batteries that will certainly drive a 30% decrease in front-of-meter battery storage in key markets China, Australia as well as South Korea.

A report from Wood Mackenzie forecasts lithium-iron-phosphate will certainly surpass lithium-manganese-cobalt-oxide as the dominant fixed power storage chemistry within the years.

Experts at Wood Mackenzie have looked at plans for the incoming years as well as wrapped up that concerning 119 production sites will be up and running by 2030. China presently sits firmly in the driving seat, with Asia Pacific making up 80% of international production ability, however Europe is catching up.

According to new research from Wood Mackenzie, non-residential storage system costs will fall by 27% in the United States over the next five years. The fall in system costs will help drive a more-than-tenfold growth in the U.S. non-residential storage market by 2024. Commercial and industrial customers with predictable, peaky loads are increasingly turning to storage to help manage demand charges.