Signal: batteries market grows as gas-fired generators wind down

Tuesday 05 Dec 2023
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The lithium ion (Li-ion) batteries market is set to reach $400bn by 2035, while gas-fired power plants close down.

Agrowing global battery market offers a new means of bolstering energy security, as gas-fired power plants close down. The NGO Global Energy Monitor (GEM) has tracked the closures of gas-fired plants around the world and found that 177 units have been retired since 2020, including 36 in the US alone. Of those 36, 19 have been closed since the start of 2022.

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