renewables to generate half of worldwide electricity by 2050: report - lithium ion battery for solar storage

Lithium prices fell
By 2050, ion batteries will bring about half of the world's electricity from renewable solar and wind energy.
However, this is still not enough to achieve the global climate goals.
A recent report by Bloomberg New Energy Financing Corporation (BNEF)
Released today.
According to BNEF's Electric Vehicle Outlook report last month, the report predicts that 50% of new cars sold worldwide will be electric vehicles by 2050, today's 2018 new energy outlook report transforms the increase in lithium battery production into a reduction in industrial costs --
Extended battery storage.
Don't miss out: Electric vehicles will exceed half of the market by 2040, replacing 7% of gasoline consumption: Reports of installing battery storage capacity in wind and solar power plants will allow these renewable sources to provide power grids-
Even if the sun does not shine and the wind does not blow, the power should be scaled.
"The arrival of cheap battery storage will mean that it is increasingly possible to use wind and solar power skillfully, so that even if the wind does not blow and the sun does not shine, these technologies can help meet the needs, "Seb Henbest, the main author of the report, said.
"The result will be a growing share of renewable energy in the existing market for coal, natural gas and nuclear energy.
The report predicts that the decline in battery prices will reduce the level cost per kilowatt
By 2050, the number of hours of solar power was 71%, and the cost of wind power was 58%.
The report notes that the price of solar and wind energy has fallen by 77% and 41% since 2009.
It is expected that most of the new battery capacity will be installed on the electric network to support the industry-
Large wind and solar farms. One-
Third, it is expected to be installed in homes and businesses to support the various solar installations.
This trend can even allow 40% of electricity in some countries, such as Australia, to be installed by individuals from homes and businesses. The U. S.
It is expected to lag behind other large industrialized regions, with 55% of electricity coming from renewable sources, compared with 87% in Europe, 62% in China and 75% in India.
Increasing battery installation and falling prices will greatly reshape power production, the report said.
The increase in the use of renewable energy will reduce the share of the coal market to 11%.
"In the long run, coal is the biggest loser, being beaten by wind and [in terms of cost]photovoltaics]
Flexibility for mass generation, battery and natural gas.
"Future power systems will be restructured around cheap renewable energy," said Elena giannakopooulou, head of energy economics at BNEF . ".
Also read: electricity-
Car battery cost: Tesla is $190 per kilowatt hour and GM is $145 per kilowatt hour, while the generation of natural gas is expected to increase, which will make up for a smaller market share, mainly made up of peaker plants with short-term surge in power demand, rather than providing basic loads like many gas plants do now.
Even if there is such a big change in power generation, it will not keep carbon dioxide emissions at the target level and limit global warming to 2 degrees Celsius, the report said.
Carbon dioxide emissions are expected to grow by 2% over the next decade and will begin to decline by 38% by 2050.
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