Electrochemical energy storage is expected to be a significant driver of Lithium demand over the next 10 years. As electricity grids transition from fossil fuels to green energy solutions, the need for grid efficiency, flexibility, time shifting and supply security is increasing. Electrochemical energy storage utilising lithium ion batteries will play a critical role in the continuity and stability of the transitioning electricity grid.
The UK government estimates technologies like lithium ion storage systems, by supporting the integration of more low-carbon power, heat and transport technologies, could save the UK energy system up to £40 billion by 2050, ultimately reducing people’s energy bills.
With the ongoing investment and development of grid storage, the lithium market has very positive demand fundamentals, currently and on the foreseeable horizon, which bodes well for our investments in Sonora and Zinnwald projects.