Submitted by EnergyTechStocks.com

Expected growth in electrified transportation and renewable energy will drive global demand for batteries and other energy storage devices, making this a $100 billion or higher annual market compared with about $20 billion a year currently, according to a new forecast from Merriman Curhan Ford, the investment banking firm that closely analyzes “cleantech” trends.

The surge this Wall Street firm sees coming over the next several years will coincide with what it anticipates will be broad adoption of hybrid electric vehicles and greater use of solar and wind in utility-scale power plants requiring storage capability (for when the sun isn’t shining and the wind isn’t blowing). The report states that growth in energy storage will be fueled by new products, such as lithium-ion batteries and ultracapacitors.

“The sharp increase in energy costs has provided a new baseline for the energy policy debate, and industry leaders are calling for practical solutions. We believe both hybrid electric vehicles (HEVs) and renewables are a piece of the remedy for U.S. energy needs, and we observe energy storage as a key part of the equation,” the report concludes.

Consequently, “We believe energy storage represents a unique opportunity to invest in established growth markets where new applications will be served by both conventional and emerging technologies.”

The report highlights that more than $1 billion is now being spent on battery research and development. This is “expected to result in the availability of a wide range of new technologies . . . (and) solid investment opportunities across the supply chain,” the report concludes.

The report singles out a number of public companies that “we believe are well-positioned for the long-term,” including: Exide Technologies, EnerSys, Saft Group, Polypore and Maxwell Technologies.