New Sodium-Ion Batteries Threaten The US Coal Recovery Plan

The article discusses the emerging threat that new sodium-ion battery technology poses to the U.S. coal recovery plan. Despite recent attempts to revive aging coal power plants amid a proclaimed national “energy emergency,” these efforts are faltering due to the rapid advancement and cost-effectiveness of renewable energy sources like wind and solar, coupled with innovative energy storage solutions. In the first half of 2024, renewables accounted for 93% of new capacity additions to the U.S. grid, with solar and energy storage projects making up 83%, underscoring the accelerating shift away from fossil fuels. Sodium-ion batteries are highlighted as a promising alternative to lithium-ion batteries for grid-scale energy storage due to their cost advantages, scalability, and supply chain security. Although the U.S. startup Natron, an early sodium-ion player, recently shut down, Peak Energy—a newer company with experienced leadership from Tesla, Apple, and Powin—has gained significant traction. Peak Energy secured $55 million in Series A