Battery market seen growing to US$250b or more by 2040

London

BATTERIES capable of storing power at utility scale will be as widespread in 12 years as rooftop solar panels are now, revolutionising the way consumers use energy.

That's the conclusion of Bloomberg New Energy Finance (BNEF), which forecasts the battery market may be valued at US$250 billion or more by 2040. It expects 25 gigawatts of the devices to be deployed by 2028, about the size of the small-scale photovoltaic industry now.