28 Jul '16, 5pm

German storage market to hit US$1 billion by 2021 on falling costs and subsidies

German storage market to hit US$1 billion by 2021 on falling costs and subsidies

German energy storage market will boom in residential sector, and see faster growth in utilities market The German energy storage market will be worth US$1.03 billion by 2021, representing an 11-fold jump on its 2015 market value in megawatt terms, according to a new report by US analyst GTM Research. Germany was home to 67MWs (128MWh) of energy storage at the end of 2015, with a value of US$169 million. GTM Research said declining feed-in tariffs, high retail electricity rates and a large installed base of renewables will underpin its escalating growth during the next five years. The country will deliver 161MW (274MWh) by the year-end, it said. In particular, Germany’s residential market will continue to grow at pace, said GTM Research. The Federal Ministry of Economic Affairs (BMWi) has put aside a budget of €30 million (US$33.24 million) as part of its KfW 275 programme...

Full article: http://www.pv-tech.org/news/german-storage-market-to-hit-...

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