Eco Factor: Batteries that are able to store 1MW of power will be a boon for renewable energy developers.
The amount of energy that can be generated from renewable sources of energy is infinite. The problem doesn’t come with the amount of energy that can be generated, but the amount that can be stored for future use. Current battery technology limits the amount to a tiny fraction of what the world actually needs.
Earlier this year Utah-based Ceramatec claimed to have developed a battery that can store up to 20KWh of electricity, and now we have Switzerland-based private equity fund Micro Finance Investment AG announcing that they’re working with a “world-renowned” firm, which is on the verge of developing a new lithium polymer cell that can store a whopping 1MW of power.
Micro Finance refused to name the company that is developing the tech, but mentioned that the first model of the battery should be available in eight months and mass production should being in two years.
Via: BusinessGreen
