Renewable energy, especially solar and wind energy, are at the point now to where only small impediments hold this type of energy back from being more widely used today. However, while those stumbling blocks may seem small to the average onlooker, there are some unique challenges to the things that are holding renewable energy back. One such hurdle that renewable energy experts see as a rather significant one is the lack of proper battery technology.
All a person has to do is go online and look at the costs for renewable energy systems. For example, solar power can be used on a large scale for businesses and it can also be used rather effectively for individual residents. However, one thing that limits the system from being as effective as it can be is battery technology.
Solar cells, while being a bit expensive, are extremely efficient at harnessing the energy produced by sunlight and turning that energy into usable electricity. During the day, this electricity can be used quite easily. However, at night, when solar cells cease to be active, the energy that was harnessed during the daytime can be stored in a battery that can be used at night when no solar power is being created.
Unfortunately, battery technology is woefully inadequate. Current batteries can only store a small amount of electricity and in some cases, without multiple battery units, a home will be unable to use the electricity that was generated during the daylight hours.
Fortunately, for renewable energy experts as well as investors, battery technology is now beginning to take some significant leaps forward. There have been innovations recently that have worked to create technology that can help batteries be more efficient and less expensive. This sort of technology is moving forward in research departments in universities as well as large companies.
From an investment standpoint, this may be the right time to start looking for investment positions in renewable energy, especially companies that focus on battery technology. With the demand for such increases in battery technology, and the push that many public organizations and private companies are making to improve this technology, it could be a rather explosively successful market in the future. That’s why, if you’re looking for profitable investments for the long-term in the renewable energy sector, battery companies and providers of battery technology may be precisely what you’re looking for.