RE: Down to the wire4 Jan 2024 17:04
The money for AMTE is in onsite batteries and current EV support infrastructure:
The UK onsite battery market is expected to reach a size of Β£2.4 billion by 2025, according to a report by Wood Mackenzie. The market is growing rapidly, driven by a number of factors, including the increasing popularity of electric vehicles (EVs), the need for energy security, and the growing awareness of the benefits of battery storage.
[Image of UK map with battery storage locations]
* **EVs:** The UK government has set a target of banning the sale of new petrol and diesel cars by 2030, and this is driving demand for EVs. EVs need to be charged, and many people are choosing to install onsite battery storage so that they can charge their EVs using renewable energy.
* **Energy security:** The UK is increasingly reliant on imported energy, and this is making the country vulnerable to energy price shocks. Onsite battery storage can help to reduce the UK's reliance on imported energy and improve energy security.
* **Benefits of battery storage:** Battery storage can provide a number of benefits, such as reducing energy bills, improving air quality, and reducing greenhouse gas emissions. As people become more aware of these benefits, demand for onsite battery storage is likely to increase.
The growth of the UK onsite battery market is also being supported by a number of government policies, such as the introduction of feed-in tariffs for battery storage and the creation of a Β£1 billion Battery Industrialisation Strategy.
The UK onsite battery market is dominated by a few large players, such as Tesla, sonnen, and LG Chem. However, there are also a number of smaller players in the market, and the competitive landscape is likely to change in the coming years.
The future of the UK onsite battery market is bright. The market is expected to grow rapidly in the coming years, driven by the factors mentioned above. The UK government is committed to supporting the growth of the market, and there is a lot of investment going into the sector.