The tremendous advances being made in lithium battery technology are being underestimated by many people, writes financial energy specialist Gerard Reid. Competitive EVs are just a few years away. They will be followed by radical improvements that will have huge implications for air and ship transport as well. Courtesy Energy and Carbon blog.
I constantly hear from people that batteries are just not good enough; that they are too expensive, that they cannot hold enough energy, that they take too long to charge. In a nutshell, that they can never replace oil to power the automobile or be used alongside solar panels to power our everyday home needs.
The interesting thing is that I agree with all these criticisms. However, I am also clear that these challenges will be solved in the coming years thanks to the usage of new chemistries and materials as well as intense competition between battery manufacturers. I am also convinced that better batteries will lead to the electrification of not just cars but also trucks, busses and increasingly air and sea transport.