26 Apr '13, 5pm

#Solar PV storage market will see massive surge - #energy

#Solar PV storage market will see massive surge - #energy

The worldwide market for PV storage will grow rapidly to reach $19 billion in 2017, from less than $200 million in 2012, according to a new report from IMS Research, now part of IHS Inc. Following the introduction of an energy storage subsidy in Germany, global installations of PV storage systems are forecast to grow by more than 100% a year on average over the next five years. According to the report, Germany will lead the PV storage market, accounting for nearly 70% of storage installed in residential PV systems worldwide this year. However, IHS says opportunities also will exist in other regions and applications in the future, and Germany’s share of the global market naturally will fall as a result. Germany’s long-awaited subsidy for PV storage systems is due to launch on May 1. IHS predicts that the subsidy will promote rapid growth in the German residential sector and...

Full article: http://www.solarindustrymag.com/e107_plugins/content/cont...

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