Electric vehicles are forecast to drive world’s demand for energy storage

Global battery prices have fallen 85 percent since 2010, BloombergNEF reports in its annual Lithium-Ion Battery Price Survey, and storage is forecast to grow to 14 times its current level by 2030 as millions of electric vehicles hit the roads.

BNEF predicts demand will total 1,851 gigawatt-hours in 2030, up from the current 132. EV batteries are expected to account for 84 percent of that.