Oil Majors Charged by Energy Storage Potential

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Direct electrification may arguably become one of the biggest winners of the energy transition. It is a major growth area which, if coupled with the use of renewable electricity, can drive huge greenhouse gas reductions and substitution of fossil fuels across the energy landscape. While not suitable for all energy-consuming activities for the time being — some industrial processes and long-distance transport are still better suited to fossil fuels — electrification is making headways in passenger transportation, while renewable electricity is starting to dominate power markets around the world. Both these outlets suffer from a demand-supply time mismatch and therefore require some form of energy storage.

Energy Storage, Electric Vehicles, Corporate Strategy
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