As the world looks toward innovative technology to help reduce the carbon footprint, scarcity of resources has become a significant challenge.
With no single technology being enough to accommodate the green transition, we’re seeing massive investments in both fuel cell- and battery-related technologies. Some large-scale investments include new battery technologies for electric vehicles (EVs), wind turbines, trains, airplanes, commercial transport vehicles, and public infrastructure.
COMMENTARY
Currently, lithium-ion batteries make up about 70% of EV batteries and 90% of grid storage batteries. The marketplace is growing at a compound annual growth rate of 13.1%, projected to grow and reach $135 billion by 2031. The fuel cell market is growing rapidly, too, estimated to grow by 36% annually and reach $29 billion by 2028.
The differences between fuel cells and batteries…
Fuel Cells vs. Batteries: What’s the Difference?
