Relentless cost reductions over the past decade have made solar panels and wind turbines increasingly competitive with coal and natural gas.
Now we are seeing the same thing happening with batteries, allowing electric cars to become cheaper and electric grids to store surplus energy for when it is needed.
The cost of lithium-ion batteries has fallen by 75% over the past eight years, measured per kilowatt hour of output. Each time battery production doubles, costs fall by another 5 per cent to 8 per cent, according to analysts at Wood Mackenzie.
Bushveld Minerals Limited (LON:BMN) is an integrated vanadium producer supplying more than 3% of the global vanadium with plans to grow this to >5% in the short term. The Company’s flagship vanadium platform includes a 59.1% controlling interest in Bushveld Vametco Alloys (Pty) Ltd a primary vanadium mining and processing company which has one of the world’s largest high grade primary vanadium resources. In addition, Bushveld Minerals is focused on developing and promoting the role of vanadium in the growing global energy storage market through application in vanadium redox flow batteries.
