Cheaper battery storage systems are less than 20 years away from becoming a "competitive" alternative to oil and gas-fired peaking plants, according to a new International Energy Agency (IEA) study.
The cost of battery storage is projected to “decline fast” by 2040 and global BESS capacity could reach 220 giagwatts by 2040, the IEA’s World Energy Outlook 2018 said.
This would see batteries "increasingly compete with gas-fired peaking plants to manage short-run fluctuations in supply and demand"— with the scenario’s projected need for global peaking capacity set to increase by three-quarters compared to 2017.
Lead-acid battery maker Enersys is to acquire the US-based Alpha Technologies in a US$750 million deal to create “the only complete power solution provider for broadband, telecom and energy storage systems”.
Enersys said it had entered into an agreement to acquire all issued and outstanding shares and certain assets of select entities belonging to the Alpha Technologies group of companies.
The CEO of India’s Amara Raja Batteries said the firm is braced for further hikes in the price of lead into 2018— but that it has “mitigated” the impact through existing contracts.
S Vijayanad said while LME prices had seen “close to 25% growth” over the past year, the industrial and automotive battery maker expects to see lead prices “in the range of $2,400 to $2,500 per metric ton” by next spring.