In two reports, Grosberg notes that the falling cost of large-scale batteries has rendered America’s battery market an avenue for growth. Meanwhile, market interest could increase further thanks to the growing interest in the electric vehicle (EV) industry. As such, utility companies are well-positioned to benefit from this market shift during the next 10 years.
While awareness of the benefits of batteries is building, Grosberg believes the historical and widespread reliance on reliable and low-cost electricity means batteries are unlikely to overhaul America’s grid entirely – for the time being, at least.
He says: “Our long-term view incorporates our assumptions that a breakthrough in battery technology remains years away, possibly more than the next decade. Furthermore, even after a breakthrough, battery adoption may be somewhat slower when compared to other technologies.”