The analyst has published its latest Energy Storage Outlook report and says large scale deployment will provide the majority of the 1,095 GW/2,850 GWh of battery storage worldwide in 2040, with prices driven down further by grid services demand and EVs.
The rise of electromobility and demand for stationary storage will drive lithium-ion battery costs down by a further 50% by 2040, according to Bloomberg New Energy Finance’s latest Energy Storage Outlook report.
With costs for the technology having already tumbled 85% from 2010 to 2018, the business intelligence firm predicts 1,095 GW/2,850 GWh of energy storage will be installed in 21 years’ time, up from 9 GW/17 GWh last year.
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