Are lithium-ion batteries a good energy storage solution?

There are different energy storage solutions available today, but lithium-ion batteries are currently the technology of choice due to their cost-effectiveness and high efficiency. Battery Energy Storage Systems, or BESS, are rechargeable batteries that can store energy from different sources and discharge it when needed.

What is battery energy storage?

Battery energy storage (BESS) offer highly efficient and cost-effective energy storage solutions. BESS can be used to balance the electric grid, provide backup power and improve grid stability.

How much will the Energy Department spend on batteries?

The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing Wednesday, Nov. 15, 2023, up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. (AP Photo/John Locher, File)

Why is battery storage important?

Since then, the facility saved nearly $40 million in its first year alone and helped to stabilize and balance the region’s unreliable grid. Battery storage is transforming the global electric grid and is an increasingly important element of the world’s transition to sustainable energy.

Are batteries a climate solution?

The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. Batteries are seen as an important climate solution because they can power cars, which are a major cause of climate change when they burn gasoline.

Who makes the first lithium-ion battery pack?

Image: Gotion High-Tech China-headquartered lithium-ion battery maker Gotion High-Tech has produced the first battery pack at its new factory in California’s Silicon Valley.