31 Dec
2020

Global energy storage boom to Increase 122-fold by 2040

first_imgGlobal energy storage boom to Increase 122-fold by 2040 FacebookTwitterLinkedInEmailPrint分享Utility Dive:Global energy storage deployment is expected to increase 122-fold over the next two decades to 1,095 GW/2,850 GWh by 2040, according to a new BloombergNEF (BNEF) report, published Wednesday.BNEF estimates this storage boom will require $662 billion of investment, even though the cost of lithium-ion batteries is expected to fall by 50% over the next decade.The research company also forecasts that renewables will account for almost 40% of the world’s electricity by 2040, up from 7% today, due to falling prices.The global transformation of the power grid toward renewable energy sources is expected to catapult the deployment of energy storage systems to new heights, while the anticipated electrification of the transportation sector and the power demand from that will help further reduce costs.BNEF pointed to the stationary storage and electric vehicle markets as the main drivers of the upcoming battery boom. “Two big changes this year are that we have raised our estimate of the investment that will go into energy storage by 2040 by more than $40 billion, and that we now think the majority of new capacity will be utility-scale, rather than behind-the-meter at homes and businesses,” Yayoi Sekine, energy storage analyst for BNEF and co-author of the report, said in a news release. Despite this positive outlook for the storage industry, S&P Global Platts Analytics identified raw material prices, fire protection and potential import tariffs as potential risks to future price reductions.More: Global storage deployments to hit 2,850 GWh by 2040, increasing 122-foldlast_img read more

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17 Dec
2020

The best credit union in the country pays 7 times the average interest rate

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr More than 121 million Americans belong to a credit union, and if you’re not in that group, it’s worth asking yourself how come.Membership at these nonprofit financial institutions has been steadily climbing over the past several years, according to data from the Credit Union National Association, thanks to a combination of superior interest rates and minimal fees as compared to the country’s biggest banks.Because credit unions typically restrict membership to a specific geographic area, employer, or community, MONEY focused on credit unions that allow members to join from anywhere in the country, usually through a donation to a specific charitable organization, when picking the winner for our 2019 best credit union rankings.MONEY also weighed whether credit unions offered free checking and savings accounts, competitive ATM fees and interest rates, and robust online and mobile banking tools, using account data provided by our partner MagnifyMoney.com. continue reading »last_img read more

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