Energy Storage Solutions may be the Next Big Investment Opportunity

Renewable energy is expensive and it’s not as far reaching as it should be. This might sound like a negative statement, but the truth is that renewable energy isn’t where it should be, at least not yet. While there has been a lot of focus on creating clean energy and reducing how much energy the average person consumes, there haven’t been a lot of advances in the energy market that are affordable. The good news is that there are people working on it, and many of them are focusing on batteries.

The two most expensive parts of renewable energy are the initial setup and storage. The initial set up requires purchasing a number of things, whether it’s a solar powered set up or it’s a wind turbine. The cost of creating a new system can be more than $10,000. If someone plans on staying in the same location for more than ten years, the cost will be repaid in energy savings, it just takes time.

Storing excess energy for later use is done through batteries. However, a battery strong enough to power a home for 24 hours is about $5000. If someone wants to store more energy, in case of a long-term power outage, they will need five or six batteries. The cost can be astronomical. This is why many people haven’t made the transition from oil or nuclear power to solar or wind energy. The up-front costs are very high for the average person.

The good news is that there are a number of people working this problem. From Tesla to colleges and universities around the US, people are striving to create batteries that will store energy at a much reduced rate. Tesla has announced their intention to bring down the cost of energy storage batteries by 90%. This announcement was geared toward the electric car industry so that electric vehicles can be more competitive in terms of price, but it has transitioned to some great battery technology from them associated with solar power.

What this all boils down to is that the world of batteries is bound to change. For people looking for new investments, batteries may be a great option. From water and dirt batteries to cheaper ways of creating lithium batteries, there is potential in this industry. If you’re not sure, you could try here and see for yourself what the fuss is all about.