One of the key developments of 2017 has been the way that energy storage, microgrids and distributed generation entered the mainstream.
They started the year as technologies full of promise for the future – once all the glitches could be ironed out – and they ended it with Bloomberg New Energy Finance forecasting that the energy storage market will experience the same explosive growth that solar did between 2000 and 2015. “The global energy storage market will double six times between 2016 and 2030, rising to a total of 125GW/305GWh,” the clean energy analysts said.
The International Renewable Energy Agency (IRENA) is even more bullish, saying that total battery storage capacity will grow from 2GW today to around 175GW by 2030, driving costs down by two-thirds. A report by Smartest Energy says that UK battery capacity will grow up to 100-fold by 2020.
Unlike solar and wind, which continue to create problems for the energy market’s incumbent utilities, energy storage provides solutions, and quickly
The demand for energy storage is being driven by the rapid growth of electric vehicles and renewable energy, and the need this creates for a way to store surplus energy and fill the gaps in output when the...
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Image: Channels: Environment
Tags: IRENABloomberg New Energy FinanceTeslaSouth AustraliaGreensmith Energywind energyLO3 EnergyAES Energy Storage