Economics
These Technologies May Actually Deliver Elon Musk’s Dream of Changing the World
Sorry, Elon, batteries alone ain't gonna do it.
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As Tesla founder Elon Musk promises to change the world, starting with a giant battery factory in the Nevada desert, investors from Toronto to Tokyo are quietly developing the next-generation technologies that may actually get him there.
Batteries, especially the lithium-ion variety used in mobile phones and electric cars, are likely to dominate the $44 billion or more spent on energy storage by 2024, according to Bloomberg New Energy Finance. Trouble is, they’re not the solution to all needs.