It’s not something many of us consider on a regular basis but without batteries and power storage systems, this world would be a very different place. Everything from mobile phones and tablets to electronic toothbrushes and cars rely on batteries to operate, but the problem is, not only are the traditional lithium-ion batteries notoriously expensive but the energy generated can be easily lost if it’s not seamlessly transported to a storage system.
Improvements are in the pipeline with 2016 dubbed ‘the year of the battery’ and with big money sure to be made from revolutionary products and systems, now could be a great time to watch the global markets via IG and potentially invest in power storage projects and ideologies – not only for personal gain but for the good of the environment too.
Renewable energy and power storage
As the world becomes more environmentally aware, renewable power sources have become increasingly popular and, while considerable steps have been taken to generate energy naturally via wind farms, solar panels and such like, there are numerous fundamental problems with the processes. When the sun doesn’t shine, for instance, solar energy is not effective and therefore it’s crucial to find a better way to store energy so that it’s not wasted. Similarly, if there’s no wind, energy generated in a natural way is intermittent making it an unreliable source of power.
The good news is, there have been numerous recent breakthroughs that look set to change the future of energy considerably. Funded by a grant from the US Department of Energy, a team led by researcher Yiying Wu, professor of chemistry and biology, has combined a solar panel and battery into one unit. By combining the two the team hope to eliminate the usual 20 per cent efficiency loss between panel and battery.
Wu commented: “The state of the art is to use a solar panel to capture the light, and then use a battery to store the energy”.
This development in battery technology is potentially huge and therefore jumping on board the battery bandwagon now could lead to fruitful gains in the future. Why? Well because energy storage is seen as the holy grail for many companies and for remote regions/islanders who want to operate in a more environmentally friendly and efficient way.
With countries like Hawaii looking to generate 70 per cent of their energy from renewable sources by 2030 and the UK targeted to reduce emissions by at least 80 per cent by 2050, the market for batteries and power storage systems is undeniably huge – music to the ears of budding investors.
And it’s not just islanders that will benefit from such technologies, with larger organisations sure to get involved as they try to stabilise the fluctuating production from their renewables and set themselves apart as environmentally concerned entities.
The production of efficient batteries and innovative power storage systems is big news at the moment, so it’s well worth keeping an ear to the ground. Smart investors spot opportunities such as this and make sure they make money off the back of their hunches.