Lithium-ion Market To Increase From $10 Million To $235 Million
NanoMarkets projects that lithium-ion battery sales could jump from $10 million in 2013 to $235 million in 2018 and $370 million in 2020.
This monumental leap is largely because home owners and building managers will still be willing to pay up to four times the price for lithium-ion instead of lead-acid, because lithium-ion batteries are more mobile and take up less space than lead-acid.
As Europe takes huge strides to reduce reliance on fossil fuels and increase usage of renewables and energy storage (the European Union wants renewables to account for 20 percent of all energy produced by 2020, up from 12.5 percent in 2010), batteries will be instrumental in achieving this goal.
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