Fire, the wheel, the compass, the internal combustion engine, the Internet: All are technologies that changed the world. Batteries could be next. Geographic constraints define geopolitics, but new technologies have the potential to overcome such constraints and, in doing so, drastically change global dynamics. For this reason, we monitor technological advancements and developments, including in energy storage. Improvements to battery technology could shape our lives in remarkable ways, enhancing renewable energy integration into the power grid, making mobile robotics practical and reducing the price of electric vehicles in the not-so-distant future. If technologies advance to the point where current fuel sources (hydrocarbons) become less influential, the results will be, quite literally, earth-changing.
Lithium-ion batteries are the current industry standard of battery technology, in terms of storage capacity and lifetime. As battery technology becomes even more widespread, the production of lithium will change political and economic relationships across the globe. But to assume that lithium will be the primary battery type in the long term, or even the sole energy storage technology in the near term, is shortsighted. What exactly could replace lithium is unknown at this point, but there are options in the research pipeline that could prove useful. In the meantime, lithium-ion batteries will advance and become more prevalent. And though eventually lithium-ion batteries may very well fill many of the roles that hydrocarbons now play, lithium will never have the same geopolitical importance as oil.
Over the course of history, society relied first on wood and wind for its energy before moving to coal, oil and natural gas. The next transition — conceivably, to batteries — is just getting started. With it will come the rise of a whole new set of commodities, best reflected by lithium's recent success and predicted growth. However, in all likelihood, lithium will eventually be replaced by something cheaper, more abundant and more universally accessible. Lithium's prospects in the near future are exciting, but the duration of its success will be limited.
