There’s no question that as technology advances, the renewable energy market grows more appealing to investors. The technology advancements help to make the renewable energy methods more reliable and more robust. However, one area that has lagged behind when it comes to advancement is renewable energy storage. Simple issues have confounded reliable storage and have hindered things such as solar energy from becoming more widely used. While solar energy technology is advancing at a rapid rate, the ability to store this energy at night or during a cloudy day has been an issue.
This deficiency has been identified in the past few years by renewable energy providers, renowned scientists and researchers. Today, there are more breakthroughs in battery technology than ever before. Whether it’s solar energy or wind energy, battery technology has to be better. When the wind isn’t blowing, people will still require electricity and people relying on wind power for electricity are going to need batteries that have stored excess energy to provide their homes and businesses with power. The same goes for solar energy.
Battery technology has been improving incrementally for the past few years. Recent breakthroughs in battery technology, most notably by researchers at Ohio State University, have allowed battery production to be 20% more efficient while being 25% more affordable. In the past, battery technology was seen as an afterthought, but today it is seen as the biggest impediment to renewable energy being more effective. That’s why alongside of the Ohio State University, other schools and businesses are working towards better battery technology. Schools, such as MIT, Pittsburgh-based Aquion Energy, Solar City Corp and most notably, Tesla, are all moving towards more powerful and more efficient battery technology.
When it comes to investing, not only are renewable energy companies poised for a better future, but renewable energy technologies like power storage breakthroughs and the companies that will make those breakthroughs are also excellent investments. With there being no telling how this technology will continue to grow, it’s recommended you read some of the newer publications on advancements in renewable energy power storage. This might be just the convincing you need that these investments are excellent for the long-term.