UPDATED WEEKLY
The Hysteresis
Where battery markets lag — and leadBNEF's annual benchmark says storage packs fell 45% last year. That number is in every deck we've seen this quarter. InfoLink's spot data, six months fresher, shows Chinese ESS cells climbed 22%. Both are sourced, both are real, and they've stopped describing the same market. We kept pulling that thread across U.S. plant conversions, Korean earnings, defense procurement timelines. Each one came back to the same problem: the number you can cite in a presentation and the number that governs a sourcing call have quietly diverged.
ISSUE #3
The Hysteresis
BNEF's annual benchmark says storage packs fell 45% last year. That number is in every deck we've seen this quarter. InfoLink's spot data, six months fresher, shows Chinese ESS cells climbed 22%. Both are sourced, both are real, and they've stopped describing the same market. We kept pulling that thread across U.S. plant conversions, Korean earnings, defense procurement timelines. Each one came back to the same problem: the number you can cite in a presentation and the number that governs a sourcing call have quietly diverged.
ISSUE #3
Monday, June 29
