How can we make battery technology better?
We can make batteries two or three times better if we’re willing to make the investment. Energy research has fallen by a factor of six, while medical research has grown by a factor of four since the 1970s. I have observed that the U.S. energy industry spends 0.25 percent of revenues on R&D, while the pharmaceuticals industry spends 18 percent and semiconductor firms spend 16 percent. Even the automotive industry spends 3 percent of its revenues on R&D.