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What’s the down-side of the ultracapacitor relative to the battery?

It’s lower energy density and high price.

This means that the ultracapacitor market is the top-end of the battery market where large premiums can be commanded for outstanding power, life, and reliability features of the ultracapacitor. Today, such market applications are hybrid-electric buses, diesel engine starters, power regulators, wireless devices, digital cameras, battery-less remote controllers, cordless power tools, etc.