New research shows that battery innovation is growing at four times the average rate

Affordable and flexible energy storage technologies will drive the global transition to clean energy, enabling clean electricity to penetrate new and emerging application areas. Global patents for batteries and other energy storage technologies grew at an annual rate of 14% between 2005 and 2018, four times the average for all technology sectors, according to a new joint study published today by the European Patent Office (EPO) and the International Energy Agency (IEA) .

The report "Innovation in Batteries and Power Storage - Global Analysis Based on Patent Data" shows that batteries account for nearly 90% of all patents in the field of power storage, and the growth of innovation is mainly driven by the development of rechargeable lithium-ion batteries used in consumer electronic devices and electric vehicles. In particular, electric vehicles aim to improve their power output, durability, charging and discharging speed, and recyclability. At the same time, the need to integrate large amounts of renewable energy (such as wind and solar) into the power grid has also driven related technological advances.

The joint study shows that Japan and South Korea have established a strong leading position in battery technology, and technological progress and large-scale production in an increasingly mature market have led to a significant decline in battery prices in recent years. Since 2010, the price of lithium-ion batteries for electric vehicles has fallen by nearly 90%, while the price of stationary applications such as grid management has fallen by about two-thirds over the same period.

Developing better and cheaper electricity storage is a major challenge for the future. According to the International Energy Agency's Sustainable Development Scenario, the world will need nearly 10,000GWh of batteries and other forms of energy storage by 2040, which is 50 times the current market size .

The IEA’s forecasts make it clear that energy storage will need to grow exponentially in the coming decades for the world to meet international climate and sustainable energy goals. Accelerating innovation is essential to achieving this growth. “By combining the strengths of the IEA and the EPO, this report reveals today’s innovation trends to help governments and businesses make informed decisions about our energy future.”

Antonio Campinos, President of the EPO, said: “Electricity storage technologies are essential to meet demand for electric mobility and enable the shift to renewable energy if we are to mitigate climate change. The rapid and sustained growth in innovation in energy storage shows that inventors and companies are rising to the challenge of the energy transition. The patent data shows that while Asia is far ahead in this strategic industry, the United States and Europe can rely on a rich innovation ecosystem, including a large number of SMEs and research institutions, to help them maintain their edge in the race for the next generation of batteries.”

The joint study follows the release of the IEA’s Energy Technology Perspectives 2020 in early September, which deepens the IEA’s technology analysis and outlines the challenges and opportunities associated with a rapid clean energy transition.

(Original text from: International Energy Agency New Energy Network Comprehensive)