Ashok Thakur, Editor-in-Chief, ETN
It is a good time to be in the Energy Storage sector.
Have I said this before? Maybe, and with good reason. The last few years, pandemic notwithstanding, the growth of this sector had been 'tortoisey', largely influenced by erratic demand. The progress was slow-paced, sure; but the movement was encouraging.
The COVID lockdown also gave us all a reason to pause and reflect. A lot of effort was directed towards R&D, which is good because it has given good results. That phase also made all countries aware of their dependency on a single source for most of their material-method-manufacturing needs. And the outcome of this period of deliberation has been fantastic.
Some daring ventures, some constructive firsts, and so many wholesome alliances… all are driving towards a positive, thoughtful and assertive energy transition.
Awareness of the benefits of electrified transportation is increasing, myths and mishaps are being corrected, EV manufacturers are keenly pursuing new EV lines, battery manufacturers are aiming at expanding the production base to ensure a steady battery supply to the promising new e-entrants. These dynamic tie-ups have also brought the suppliers together into a vigorous ecosystem; we might just witness the emergence of a robust global battery manufacturing supply chain in less than a decade.
The best part is that emerging tech in all spheres – be it manufacturing, cell chemistry, battery management or materials science – is opening up opportunities for every stakeholder of the industry.
Dependency is moving from mono to many, and that will make for healthy competition, keeping the quality and cost in check. Not only the industry stakeholders, but now also the governments are waking up to play their part in supporting the industry. Favorable policies are being drawn, and the governments are actually investing in the electric future of their countries… leading the way of course is President Biden's team.
"Dependency is moving from mono to many, and that will make for healthy competition, keeping the quality and cost in check"
'Crises and deadlocks when they occur have at least this advantage, that they force us to think' (Jawaharlal Nehru). Can't be any truer, as recent events have shown us. The pandemic forced us to think of self-reliance; the Ukraine-Russia conflict made countries around the world realize the need to move to renewable sources of power; and sudden economic and political upheavals have stressed on the importance of energy security.
In seeking solutions to the repercussions or the fallouts of all the turmoil, we have now moved to the front of the line what we had on the backburner. So, yeah. We have giga factories projects mushrooming globally; a cost-effective, long-running, emission-free electric ride is not far off then. Most nations, even developing ones, are now exploring new energy options, and various RE project installations are coming up like never before. Grid integration might just be the answer to a clean, cheap and sustainable supply of power for everyone.
And you know what is the common factor that lies in the center of the solutions? – Energy Storage! It is a really good time to be in the Energy Sector! We may not be there yet, but we sure are all set.
The WESD special issues, are extra special for us. Through this we celebrate the efforts of the global visionaries and leaders of emerging tech, who have dedicatedly pursued the progress of this sector as influencers, researchers and promoters, making way for future innovation.
Making energy transition an effective reality