The advances being made in battery technology have huge potential to improve the feasibility and cost of energy storage and electric vehicles.
Many countries have now proposed to ban the sale of Internal Combustion Engine (ICE) vehicles by 2030, pushing for the accelerated adoption of Electric Vehicles (EVs). Engineering advances have allowed for batteries to become faster to charge, more energy dense, longer lasting, and most importantly, cheaper. However, Bloomberg New Energy Finance predicts that EVs will only be cheaper than traditional ICEs once battery costs fall to about $100/kWh, a milestone that may still be some years away. To make up the difference of this time delay, we must make better batteries so that EVs and energy storage infrastructures don’t need as many batteries to satisfy the same energy needs.
Check out this video discussing some of the companies working to commercialise these advances in battery technology, and what it means for the transportation and energy industries.
This video was made by Future Lab. Check out their YouTube page in the link below: