Global investment banking group, Citi, says wide deployment of battery storage will hasten the demise of fossil fuels and any utilities that remain focused on centralised generation. Citigroup expects a rapid fall in battery manufacturing costs and estimates a $400 billion energy storage market by 2030. Citigroup claims that the battery phenomenon will be even more profound than the solar revolution of the last decade, and warns that any traditional utilities that remain focused on centralised generation will be left behind. For this reason, energy storage has been included as part of Citigroup’s analysis of the 10 major investment themes for 2015, stressing the significance of continued development in this technology. The issue is rapidly moving beyond those focused on the utilities and energy markets. Energy storage is now becoming part of mainstream financial thinking, and because of that will have a profound influence on capital flows across the globe. Citi says improvements in battery […]
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