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proactiveinvestors.co.uk/columns/fuller-treacy-money/27840/the-big-green-bang-how-renewable-energy-became-unstoppable-27840.htmlStoring clean power has long been a holy green grail but prohibitive costs have put it out of reach. This has begun to change as battery production has ramped up to meet an expected boom in electric cars.
Lithium ion battery prices have halved since 2014, and many analysts think prices will fall further as a slew of large battery factories are built.
The best known is Tesla and Panasonic’s huge Nevada “gigafactory”. Tesla claims that once it reaches full capacity next year, it will produce more lithium ion batteries annually than were made worldwide in 2013.
It is only one of at least 14 megafactories being built or planned, says Benchmark Minerals, a research group. Nine are in China, where the government is backing electric cars with the zeal it has directed at the solar industry.
Could this lead to a China-led glut like the one that helped drive solar industry writeoffs and crashing prices after the global financial crisis?
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