New Possibilities for Investing in the Renewable Energy Market

The numbers bear out that renewable energy is on the rise quite significantly all around the world. In the US, renewable energy has grown by around 13%. In addition, experts agree that the renewable energy market is expected to grow by more than 11% this year alone. The growth for Europe is even more robust. What is interesting is that all this is going on while renewable energy is suffering from a huge lack. That lack is in the area of battery technology.

All a person has to do is read online about how woefully inadequate battery technology has become. While solar and wind energy technology has advanced significantly, it is being held at bay mainly because the battery technology is so weak. It’s impossible for current batteries to properly store the electricity that these alternative energy options produce. Fortunately, new advances are looking like things in the battery sector are changing and this means good things for alternative energy and those that are poised to invest in such things.

For example, recent research from the Ohio State University has resulted in a battery that is more efficient by 20% while still being 25 percent more affordable. This is encouraging when a person considers how much a bank of batteries can cost. The average for a bank of batteries that can run a solar power system for 2 days can range in cost from $5000 to $15,000, depending on the size of the system. With how long solar cells last, a solar power system owner may have to replace these banks as much as 4 times during the life of a solar panel. In these situations, cheaper and more efficient batteries are very much welcomed.

Fortunately, there are more potential breakthroughs on the horizon. Schools like MIT are continuing to see results from their research in battery technology. There are also plenty of private companies, most notably Tesla, that are moving forward in researching and introducing better battery technology.

For investors, the best play is to gain exposure in companies that can either cash in on their battery technology or can capitalize on the introduction of new battery technology. While the returns may be a bit slower to come, the experts believe this is the best way to invest in the renewable energy market.