Friday, January 22, 2016
Energy storage, another big catalyst for lithium
That is according to a new report published today by the Renewable Energy Agency (REA) and consultancy KPMG, which found that by around 2017 the cost of lithium ion storage technology will have fallen low enough for early adopter households and businesses to retrofit it onto existing energy generation systems.
REA chief executive Nina Skorupska said 2016 is set to be a "breakthrough year" for energy storage and demand response systems. "This report shows that storage is already upon us and whilst traditional fuels like nuclear and gas are needing increasing help from the government, the cost of renewable technologies are coming down and many companies are looking forward to the post-subsidy business model," she said in a statement.
The report comes on the same day as new analysis from the World Energy Council (WEC) predicted storage costs will fall as much as 70 per cent over the next 15 years. However, it found that there is still too much focus on the investment cost of energy storage, which is leading to the perception storage technology is more expensive than it actually is.
Prices for lithium are surging. I am still liking Orocobre. The company announced yesterday that they did a secondary offering that raised $85 million Australian dollars. That should be sufficient to carry them through until production reaches break even. The company is near break even on production and has shown steady monthly progress regarding production gains.