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Battery technology after growing at a slow clip, is now advancing at the same speed as other semiconductors. This is rapidly going to change everything when combined with solar cells that are also starting to improve more quickly. With efficiencies that will approach 30% within sight, combined with improved batteries the days of he electric utilities may be numbered, as well as gas and oil companies. In many areas we will not need utilities or gas stations and the effect will be dramatic. The social and financial implications will be dramatic.
This is the big issue with me, battery time. I cannot get through a day without charging my iPhone 6, not even close. I will buy an iPhone7s just to get a bigger battery. Especially with the AR apps coming, they eat battery up.
I think the case of the ice trade will be informative to the oil industry. Interestingly, the harvesting of natural ice from lakes was at one point one of the most important industries in the world - until the technology for refrigeration improved to the point where it was more cost effective to make ice artificially than harvest it. I think energy storage technology will play a similar disruptive role to the oil industry. For those interested I've attached a case study of the ice industry.
