Lithium-ion batteries are one of the most efficient and common means of storing electricity at the current time. This technology is being expanded and extended to create battery storage platforms. These utility-scale energy platforms have the potential to quickly replace the oil industry because companies can treat them as an asset and finance them.
Flow batteries often depend on lithium to store electrical charge in tanks of electrolytes, they can be scaled as a source of electricity storage from grid power. Cheap, long-lived, and safe flow batteries are being developed. Many have been installed around the world. Lithium-ion batteries are being used to store electricity for homes and neighborhoods as well as being dominant in the auto industry.
A wave of advances is bringing a new generation of utility-scale batteries. Flow batteries support the deployment of wind and solar power on a grand scale. Flow batteries can be implemented as a type of fuel cell. Hydrogen fuel cells supply campus energy storage.
As renewable energy initiatives are effective, the oil and gas industry will face declining revenue and ultimately, by 2033 be a minor player in world markets. The prospect of declining revenue is not easily embraced by thriving business and the executives in those businesses have trouble getting their arms around the difficulties they have in embracing next-generation utility-scale battery technology.
The powerPoint described above is backed by several thorough market industry research studies on the battery industry.
Key Points in this PowerPoint:
- Wind energy's potential is huge
- Siemens and others committed to driving this potential into real growth
- The future is storage of renewable power
- People want clean energy systems
- Storage systems enable profitability and reduce project risk
- Vendors pushing the boundaries of existing battery technology to extend what's possible
- Abu Dhabi National Oil
- Florida Light and Power
- Royal Dutch Shell