The future cost of energy storage technologies can now be predicted under different scenarios, thanks to a new tool created by Imperial researchers.
Using a large database, the team can predict how much consumers will have to pay in the future for energy storage technologies based on cumulative installed capacity, current cost and future investment.
The future cost of energy storage technologies can now be predicted under different scenarios, thanks to a new tool created by Imperial researchers.
Using a large database, the team can predict how much consumers will have to pay in the future for energy storage technologies based on cumulative installed capacity, current cost and future investment.
As an example of how it can be used, the team predict that electric cars could potentially rival petrol by as early as 2022. They also show that home batteries – used to store power from solar panels in individual houses – could become competitive in the 2030s.
The study, by researchers from Imperial College London, is published today in the journal Nature Energy.
Renewable energy sources like solar or wind only produce power intermittently, when conditions are right. When excess electricity is generated, it may not be stored and could be wasted, rather than saved for when power is needed.
Read more at Imperial College London
Image Credit: Imperial College London
