The market for an energy storage system (ESS) is experiencing a boom.  The growth is due to the recent decline in energy storage costs and rising storage demand. The demand for energy storage also accelerated on the back of global deployment in renewable energy sources.

There are numerous energy storage systems which include batteries, hydrogen storage, supercapacitor, pumped hydropower storage system.

Currently, the next generation energy storage technologies are focused around the batteries to support consumption and to reduce pollution. One of the promoting factors for the batteries research and development is the adoption of electric vehicles (EV).

There are research and advancement in the improvement of battery energy density and safety. Various alternative materials are also used to improve battery efficiency and thermal stability. Lithium-ion batteries which typically use graphite anode materials can be replaced with efficient silicon nanoparticles.

Aluminium batteries can be a possible replacement for lithium-ion batteries in the future due to their higher energy density.  Aluminium batteries can be more environmentally friendly and sustainable than lithium-ion batteries.

The next generation of Vanadium flow power battery for energy storage can make a breakthrough and could support the entire electric grid. The growing power backup and the increasing demand for electric vehicles industry is likely to provide major opportunities for the next generation batteries market growth worldwide.