Three Domestic Energy Storage Supply Chain Trends for 2024

Three Domestic Energy Storage Supply Chain Trends for 2024

Nearly 200 countries at the U.N. Climate Summit signed a pact urging the world to focus on clean energy sources. The energy sector must be ready to meet the demand. Here are two supply chain trends driving the effort: strengthening domestic battery recycling efforts and pushing toward a flow battery supply chain. The U.S. should ensure the lead battery industry remains competitive and domestic facilities for lithium recycling are built to handle the demand. The VRFB supply chain is making progress in sourcing raw materials and electrolyte to meet the growing demand in 2024.

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Frequently Asked Questions

Answer: The key trends include the movement of energy storage manufacturers to build domestic supply chains, increasing local sourcing of materials, and the integration of advanced technologies to improve supply chain efficiency and resilience.

Why are energy storage manufacturers building domestic supply chains?

Answer: Manufacturers are likely focusing on domestic supply chains to reduce dependence on international sources, to improve security and reliability of the supply chain, and to respond to potential governmental incentives for domestic production.

How is technology affecting the energy storage supply chain in 2024?

Answer: Advanced technologies, possibly including automation, artificial intelligence, and improvements in manufacturing processes, are being integrated to optimize the supply chain operations and to respond to the increasing demand for energy storage solutions.

Answer: These trends could lead to more stable prices, improved supply chain reliability, and potentially lower transportation costs, which will strengthen the industry’s growth and competitiveness.

Answer: While the trends are discussed in the context of the energy storage sector, they may reflect a broader shift toward supply chain localization and resilience that is being seen across various industries.

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