This is the action we need to truly tackle the climate crisis, with significant investment steering the energy sector in the right direction. $1.4 billion was invested in the first half of 2019 alone, allowing companies in the sector to move quickly to achieve their goals.
This recent investment into the advanced battery technology landscape, allows alternative technology to stand competitively against established traditional energy sources. It is proving to be significant in the shift to renewables, contributing to the cancellation of planned natural-gas power plants.
Large scale investment from VCs into the cleantech sector is decreasing the cost of decarbonisation and is exactly what we need to accelerate this global energy transition beyond predicted models.
RMI reports that lithium-ion, which has received significant investment, is expected to remain the dominant battery technology through 2023, with slow increases into alternative technology such as zinc-based, flow and high temperature batteries as they rise to the market by 2030.
The U.S. was named as one of the hot spot markets, home to some of the most innovative energy storage companies that are working to decarbonise the grid. The energy world is changing quickly, and this level of investment is allowing companies to Act Now!
“These investments will push both Li-ion and new battery technologies across competitive thresholds for new applications more quickly than anticipated,” according to RMI.