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August 11, 2013
Better Batteries, Better World
Why Improved Energy Storage Will Matter More than Fracking and Renewable Energy
James Manyika and Michael Chui
JAMES MANYIKA is a Director of the McKinsey Global Institute. MICHAEL CHUI is a Principal at MGI. Both are based in San Francisco.
Advances in battery technology have the potential to shape global demand for fossil fuels, increase the use of renewables in the electric grid, and bring reliable electric power to millions of the world’s poorest. All told, the economic impact of better batteries in the next 12 years will be almost equivalent to the current GDP of Saudi Arabia.