Global prices for energy storage predicted to halve [Video]

Transcript

Batteries will be making a global comeback in the energy storage sector according to a new report out of Australia.

Proponents for renewables like solar and wind energy have struggled with harnessing their potential while coping with intermittency issues. However, with the right blueprints in place, storage could remove these limitations entirely and allow renewable energy to truly flourish. As advancements continue to come to the surface around the world, the Australian Renewable Energy Agency predicts prices for behind-the-meter storage technology will drop by between 40 to 60 percent internationally in the next five years alone.

But we're not talking about the kinds of batteries you pick up at the drug store. The agency also counted industrial flywheels, pumped hydro storage and compressed air storage among their list of emerging technologies.

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