The widespread adoption of battery energy storage systems (BESSs) serves as an enabling technology for the radical transformation of how the world generates and consumes electricity. The paradigm is shifting from a centralized grid delivering one-way power flow from large-scale fossil fuel plants to new approaches that are clean, renewable, flexible, resilient, distributed, and cost-effective.
The dramatic growth of the electric vehicle (EV) market has accelerated the adoption of stationary battery storage, with enormous investments in battery research and development (R&D) and improved manufacturing economies of scale.