The International Energy Agency (IEA) anticipates a significant shift from fossil fuels to renewable energy in the coming years, primarily propelled by a steep decline in battery costs.
According to the IEA, battery costs have plummeted by over 90 percent in the past decade, with projections indicating a further 40 percent reduction by 2030. While commonly associated with electronic devices, the energy sector dominates current battery demand, witnessing a doubling of deployment last year compared to 2022. The surge in electric vehicle sales has also contributed to the rising demand for batteries.
Continue reading… “IEA Forecasts Steep Decline in Battery Costs Driving Renewable Energy Transition”
