Advancements in energy storage and mobile battery technology
Researchers and investors are actively working to develop more affordable battery technologies, which could be a game changer.
Batteries are crucial for storing electricity to mitigate the variability of “free” solar and wind energy and for vehicles that operate independently of the electrical grid.
Advancements in battery technology aim to address several key objectives:
• Affordable electricity storage solutions.
• Fast charging capabilities for vehicles.
• Lightweight designs for aviation.
• Minimization of rare components to enable mass production.
• Extended lifespan to reduce recycling costs.
Despite progress, there is still a long way to go. The global grid-scale energy storage capacity in gigawatt-hours remains limited[1] when compared to the overall power market[2]. Additionally, the market share of electric vehicles may be growing, but it still represents a small percentage of total vehicles[3], partly due to the high cost of batteries.
Next-generation nuclear power plants
Emerging nuclear technologies hold the potential to provide the “holy grail” of ultra-competitive clean energy solutions.
Nuclear energy aims to deliver Generation IV reactors by around 2030[1], which could operate despite limited known uranium reserves. These reactors could provide load-following[2] power to support the entire electricity grid.
Nuclear fusion could provide an alternative game-changer[3], but it remains far from commercial viability unless a major breakthrough accelerates its development.
Negative carbon emissions
As CO2 emissions may not be reduced quickly enough, technologies are being developed to mitigate past emissions.
Various geoengineering technologies aimed at counteracting global warming have received increased funding:
• Carbon-capture technologies, similar to those used for CO2 removal in Navy submarines, with subsequent long-term underground storage.
• CO2 absorption through reforestation, including projects in arid regions using minimal irrigation.
• Solar radiation modification, using technologies such as aerosol injection into the stratosphere to reflect sunlight and cool the climate, as occurs naturally during volcanic eruptions.