Featured in The Long Game – 02-2023

Dawn of the store-age

Last year was another landmark 12 months for energy storage, with all indicators pointing to a massive surge in demand. Supply chain instability and inflation saw battery prices rise, but the industry demonstrated an ability to swiftly react to geopolitical developments. Marija Maisch examines five trends driving the market.

By

Marija Maisch

08 Feb 2023

A stackable battery design, such as the one deployed in the ECS Series from China’s FoxESS, allows for easy installation and better flexibility. | Photo: FoxESS

Cost remains a key driver in the energy storage space. In 2022, battery cell chemistry evolution continued at breakneck speed. There was a shift towards cheaper lithium ferro phosphate (LFP) batteries, which have been eating into the market share of lithium nickel-manganese-cobalt oxide (NMC) devices since 2020. LFP cells were, on average, 20% cheaper than …

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