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generations, technologies have been fast improving, and applications for the storing of energy are wide ranging, from powering electric cars to helping utilities balance power loads. The fact is that batteries are a staple of the energy market, and they aren’t likely to disappear from the scene any time soon. Here are a few reasons why batteries are still hot.

Dropping Prices

Companies that make and sell batteries are going to great lengths to make sure that their products are affordable to consumers. The shrinking cost of lithium-ion batteries – such as the ones used to power electric cars – is not only making the batteries cheaper and more attainable, but also the products they power, in this case cars like the Nissan Leaf or a variety of Tesla models. The drop in battery price is having a direct impact on the availability and expense of the products they are used in, resulting in a customer boom on battery-powered products.

Improving Technologies

As prices drop, the quality of technologies been improving. Batteries are able to store more energy for longer periods of time, while using less resources to do so. More efficient and more powerful batteries are resulting in less waste, more reliable access to power, and opportunities for businesses to develop their products around a truly effective energy source. With a growing public and political focus on clean energy, the availability of high-capacity batteries that reduce the need for reliance on fossil fuels is changing the energy economy as we know it.

New Applications

With improving technology, more reliable access to power, and lower prices currently and on the horizon, batteries are clearly here to stay. What’s more is that a wide variety of new applications for these energy-storing devices is expanding the energy market in new and exciting ways. One such application is within the large-scale context of utility companies. They are currently using batteries to help balance power grids and avoid building and using on-demand power plants. Batteries are helping to reduce inefficiencies and clean up unnecessary plants across the grid. They are also cheaper to use and operate than full-scale power plants, and help balance the energy load in a more reliable and steady flow than what might otherwise be available.

It’s not just coal or nuclear plants that rely on this balancing act. Renewable-resource-based energy – such as solar or wind power – also require the storage of collected energy due to the natural peaks and valleys in energy production. Furthermore, home owners and businesses are using batteries to actually shift electricity use off the grid, through small-scale power generation technologies (such as solar panels) to offset the high price of power. Considering that energy prices are not expected to decline any time soon, such applications are expected to continue and increase as well.

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