BNEF Brief: Execs Question the Business Health of Batteries

The video discusses the challenges faced by investors and developers in Europe due to the small scale of the energy storage industry. It highlights the disparity between the global installation of wind and solar energy compared to energy storage. The video predicts a new phase of renewable energy deployment, combining low-cost wind and solar with energy storage, leading to significant growth in battery capacity by 2040. Despite falling costs, the industry faces scale issues. Key drivers for future growth include cost reductions and the need for decarbonization, replacing thermal power plants with renewables and energy storage for flexibility.

What predictions are made regarding the installed capacity of batteries by 2040?

What role does energy storage play in the transition from thermal power plants to renewable energy sources?