Batteries are not a new technology. For decades, they have powered electronic devices such as laptops, mobile phones, watches, calculators, and power tools. However, thanks to recent advances in battery technology, and the shift from heavy lead-acid and cadmium batteries to high-powered lithium-ion batteries, they’re now playing a much larger role in the global economy. Today, lithium-ion batteries can be found in everything from Bluetooth headphones to personal medical devices such as hearing aids.

Looking ahead, the market for batteries is projected to grow substantially. Alongside the growth of the electric vehicle market, the global shift to renewable energy is expected to be a major growth driver. If the world is to make the shift to clean energy and move away from fossil fuels, there will need to be considerable investment in energy storage systems, which enable energy from renewables such as solar and wind to be stored and released later on. These play a vital role in the clean energy ecosystem as there are times when the sun isn’t shining, or wind speeds are low. Given that lithium-ion batteries can store a lot of energy in a relatively small space, they are ideal for energy storage systems. So, they are likely to be used in both small-scale (residential) and large-scale (grid-level) energy storage applications in the future.