Highlights
- Researchers have recently identified a new battery that is expected to be more cost-effective than traditional lithium-ion batteries.
- These new batteries would expedite the shift from fossil fuels to renewable power sources.
- As the batteries get revolutionised, the scope of renewable energy will keep growing.
Battery storage plays a very important role in expanding the scope of renewable power generation. Researchers have recently identified a new battery that is expected to be more cost-effective than traditional lithium-ion batteries. These new batteries would expedite the shift from fossil fuels to renewable power sources.
Lithium-ion batteries are used widely in various products ranging from mobiles to electric vehicles. However, producing these batteries is a relatively expensive process and thus is unsuitable for large-scale production needed in solar and wind power installations.
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When the sunlight isn't enough or the winds are weak, energy suppliers find it difficult to fulfill the power demand. Therefore, a global group of scholars have stepped up with the idea of this low-cost battery made with inexpensive and considerable supplies, which would potentially enhance energy storage.
The analysis was led by MIT professor Donald Sadoway, who said he wanted to create a better battery than the standard lithium-ion battery, initially for stationary storage on small-scale, and in due course, for automotive uses.
Collaborating with experts from institutions in the US, Canada, and China, Professor Sadoway attempted to invent a suitable battery made up of the extensively available metal aluminium and the highly affordable non-metal sulphur.
As the batteries get revolutionised, the scope of renewable energy will keep growing. UK investors can thus keep an eye on the following renewable energy stocks suggested by Kalkine Media® for strengthening their portfolio in the long run.
Downing Renewables & Infrastructure Trust plc (LON: DORE)
The trust's shares investing in renewable energy assets, Downing Renewables & Infrastructure Trust plc, plunged by 0.85% at around 11:20 AM (GMT+1) on Thursday. Currently enjoying a P/E ratio of 13.19, the company's dividend yield stands at 3.0%. With its market capitalisation standing at £217.85m, the trust has offered positive returns of 17.99% and 13.71% to investors on a one-year and YTD basis, respectively, as of 25 August. Meanwhile, its EPS stands at 0.09.
ContourGlobal plc (LON: GLO)
The shares of the globally operating renewable power generator, ContourGlobal plc, plummeted by 1.56% at around 8:30 AM (GMT+1) on Thursday. Currently having a P/E ratio of 10.91, the company's dividend yield stands at 6.4%. With its market capitalisation standing at £1,688.08m, the FTSE 250 constituent has offered decent returns of 30.41% and 32.18% to investors on a one-year and YTD basis, respectively, as of 25 August. Meanwhile, its EPS stands at 0.02.
Greencoat UK Wind Plc (LON: UKW)
The shares of the renewable infrastructure company investing in onshore and offshore UK wind farms, Greencoat UK Wind Plc, plunged by 0.p06% at around 8:30 AM (GMT+1) on Thursday. Currently enjoying a low P/E ratio of 4.43, the company's dividend yield stands at 4.7%. With its market capitalisation standing at £3,687.70m, the FTSE 250 constituent has offered decent returns of 22.79% and 13.18% to investors on a one-year and YTD basis, respectively, as of 25 August. Meanwhile, its EPS stands at 0.18.