31 Jan '17, 2pm

Renewables Boom Will Cause a 40-Fold Increase in Storage in Developing Countries by 2025

Energy storage is set to grow 40 percent per year in developing markets, says a team of researchers at the World Bank Group. That growth will take the current installed base of around 2 gigawatts up to 80 gigawatts in less than a decade. And if certain rule changes are made, capacity increases could be higher than that. The findings were published in a new report from the International Finance Corporation and the Energy Sector Management Assistance Program, which are both part of the World Bank. Unsurprisingly, China and India, with their ambitious renewables programs, are predicted to be the biggest contributors. But a host of other developing economies are set to become strong players in storage. The International Energy Agency estimates that by 2020 developing countries will need to double their electrical power output to meet rising demand. By 2035, these countries wil...

Full article: https://www.greentechmedia.com/articles/read/storage-in-d...

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