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BNEF ups forecast for global investment in stationary energy storage, sees majority of capacity likely to be grid-scale

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Energy storage installations around the world will multiply exponentially, from a modest 9GW/17GWh deployed as of 2018 to 1,095GW/2,850GWh by 2040, according to the latest forecast from research company BloombergNEF (BNEF). BNEF’s analysis suggests that cheaper batteries can be used in more and more applications.

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Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

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Demand for lithium ion batteries is forecast to grow to 3.7 This includes spending on renewables such as wind and solar as well as grid and other infrastructure. This year is expected to see more than a million tonnes LCE of lithium mined for the first time, according to Benchmark’s Lithium Forecast. The rise of gigafactories.

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IRENA sees renewable hydrogen at least cost-possible within decade

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Hydrogen produced with renewable electricity could compete on costs with fossil fuel alternatives by 2030, according to a new report from the International Renewable Energy Agency (IRENA). A combination of falling costs for solar and wind power, improved performance as well as economies of scale for electrolyzers could make it possible.

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SOFC-maker Bloom Energy announces initial strategy for hydrogen market entry; partnership with SK

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Given the Korean government’s ambitious directive of deploying 15,000 MW of fuel cells by 2040, we forecast to sell 400 MW per year of fuel cells in the future. Over time, it has improved the efficiency and aggressively reduced the cost of its products and expects this trend to continue. —Jason Ahn, CEO of SK E&C.

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New Road Map to a US Hydrogen Economy

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It can reduce both carbon and local emissions, increase energy security and strengthen the economy, as well as support the deployment of renewable power generation such as wind, solar, nuclear and hydro. Demand potential across sectors, base and ambitious cases. Road Map to a US Hydrogen Economy ”. million jobs by 2050.

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GlobalData: hydrogen to become game changer as large-scale source of cleaner power

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Hydrogen has the ability to assist in variable power output from renewable energy sources such as solar PV and wind. Hydrogen serves as one of the leading alternatives for energy storage and seems to be favoured as a low-cost alternative for storing huge quantities of electricity over days, week and also months.

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Utility solar dethrones coal as the cheapest power source in Asia

Baua Electric

The driving force behind this trend is the substantial reduction in capital costs for renewable energy projects. China leads the pack with a 40-70% cost reduction in utility-scale solar, onshore wind, and offshore wind compared to other Asia Pacific markets.

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