“Believe it or not, the electric storage battery — a technology that has been around since the eighteenth century — could change the economic course of the twenty-first century. Thanks to breakthroughs on the horizon, batteries qualify as one of 12 disruptive technologies that the McKinsey Global Institute has identified.”
That paragraph is how a Foreign Affairs article starts. In developing economies, battery storage could have a huge impact on economic growth. According to the authors: “Advanced batteries, for their part, have the potential to shape global demand for fossil fuels, increase the use of renewables in the electric grid, bring reliable electric power to businesses in developing economies, and extend electricity — and therefore access to the modern world — to millions of the world’s poorest.”
So what is energy storage exactly? It’s defined as, “any system or technology that allows you to generate energy at one time and use it at another,” such as the battery. Click here to read more about how a tool that’s been around for hundreds of years will be improved to make the world a better place.