FACE THE FACTS: Energy - The new space race

In the 1950s, America and Russia went head-to-head to dominate space travel. Today its China and the US who are setting out to control the emerging global market around energy storage. It’s a fascinating competition – with huge rewards for whoever wins. Jason Goodhand, Global Business Lead for Energy Storage at DNV Energy Systems, assesses the two main players in this Energy Race, and looks ahead to who may win. Will it be China? The US? Or the millions of energy consumers around the world? In the latest episode of this new series, Face the Facts, Jason shares his opinion and insight on the most recent major global news stories about the energy transition. In the US, a large Southeastern Utility has unveiled plans for five gigawatts of energy storage over the next 20 years. Meanwhile over in China, the World Bank has just approved a loan for 750 million US dollars, to pay for a new energy storage accelerator programme. Now the Energy Race is on, it’s time to face the facts.