Battery Solutions: enabling a sustainable energy future

The International Energy Agency predicts that battery storage capacity will need to rise to 585 gigawatts by the end of this decade to keep the 2050 net zero target alive. – a 34x increase since 2020.¹

Electrical grids currently depend on fossil fuels such as coal and gas for the majority of power they provide to end users. To move to a renewable grid free of intermittency issues, battery storage solutions need to be adopted at scale so that clean energy is available on-demand no matter the weather.

Electric vehicles (EVs) are expected to account for over 80% of all passenger car sales worldwide by 2050² up from 21% in 2022³.

The popularity of EVs has surged in recent years, and as manufacturers look to launch models for every budget, so too has the demand for cheaper, more efficient batteries, which means investment in the right technologies is paramount.

Battery solutions are expected to witness enduring growth as technological advancement and sustainability legislation create a wave of demand for new applications in the coming decades.

Battery is a revolutionary technology and a crucial part of the energy transition. Energy storage makes decarbonisation possible, with batteries powering electric vehicles and storing energy produced from wind and solar power.

The strategy is built in partnership with Wood Mackenzie and provides access to every part of the battery energy storage value chain with growth potential — raw materials, manufacturing, emerging technologies, and enablers.