Energy storage battery industry is overheating

How will battery overproduction and overcapacity affect the energy storage industry?

Battery overproduction and overcapacity will shape market dynamics of the energy storage sector in 2024, pressuring prices and providing headwinds for stationary energy storage deployments. This report highlights the most noteworthy developments we expect in the energy storage industry this year.

Did a sprinkler system trigger a battery module overheating incident?

Preliminary assessment has begun into a battery module overheating incident which occurred over the weekend at the world’s biggest battery energy storage system (BESS) project, Moss Landing Energy Storage Facility. Targeted sprinkler systems aimed at those affected modules were triggered.

Are batteries the future of energy storage?

Batteries offer one solution because they can quickly store and dispatch energy. As installations of wind turbines and solar panels increase — especially in China — energy storage is certain to grow rapidly. They are part of the arsenal of clean energy technologies that will enable a net zero emissions future.

How long do energy storage batteries last?

China’s CATL, the world’s largest battery producer, says its energy storage batteries can last for 25 years. Will it save the planet? Not on its own — but grid-scale energy storage is part of the combination of clean energy technologies that is needed to reach net zero.

Why is the battery industry growing so fast?

The fast-growing battery industry is most associated with electric vehicles, but its growth is also being driven by energy storage on a wider scale. The market for this “grid-scale” storage — enough to power a town or city — more than doubled last year.

How much energy can a battery store?

Suppose we have reached US$200/kWh battery cost, then US$200 trillion worth of batteries (10× US GDP in 2020) can only provide 1000 TWh energy storage, or 3.4 quads. As the US used 92.9 quads of primary energy in 2020, this is only 2 weeks’ worth of storage, and not quite sufficient to heat our homes in the winter.