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Martin Stein, CFO of Altech Batteries (ASX:ATC), explains the growing demand for grid storage in Europe as renewable energy sources expand. He outlines how grid-scale batteries help stabilise electricity supply by storing surplus energy from solar and wind power. Martin highlights the rapid market growth, projecting an increase from US$4bn in 2022 to US$15bn by 2027, with total capacity expected to reach 3,000 gigawatts by 2050. He attributes this demand surge to the global transition to renewables and the energy needs of artificial intelligence. He also points to the US, particularly California and Texas, as leaders in battery storage adoption but warns of lithium-ion battery fire risks, advocating for safer alternatives.
Addition/changes to Adviser Resources Centre (ARC)
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