Key takeaways from the report “Batteries and Secure Energy Transitions” prepared by IEA are:
- Batteries are an essential part of the global energy system today
- Lithium-ion batteries dominate battery use due to recent cost reductions and performance improvements
- Lithium-ion batteries dominate both EV and storage applications
- Strong government support for the rollout of EVs and incentives for battery storage are expanding markets for batteries around the world.
- Batteries are key to the transition away from fossil fuels and accelerate the pace of energy efficiency through electrification and greater use of renewables in power.
- In the NZE Scenario, about 60% of the CO2 emissions reductions in 2030 in the energy sector are associated with batteries, making them a critical element to meeting shared climate goals.
- Battery storage helps to strengthen electricity security in all markets.
- Further cost declines for batteries improve their affordability in all applications and make them a cost-effective part of energy systems
Access the complete report here
