20 Aug '17, 8pm

Global #Energy #Storage Market Poised For Strong Growth

The global grid-connected energy storage market remains poised for growth, with the market outlook strengthening until 2025, when it will reach a total installed base of 52 GW, according to a new research note from IHS Markit . Authored by Julian Jansen, senior analyst of solar and energy storage at the firm, the research note says the U.S. is expected to be the largest storage market, deploying 1.2 GW in 2020 and seeing a CAGR of 21% from 2017 to 2025. In the short term, South Korea, Japan, Germany, Australia and the U.K. will be the next biggest markets. Globally, IHS Markit predicts that annual deployment of grid-connected energy storage will grow from 1.3 GW in 2016 to 4.7 GW in 2020 and 8.8 GW in 2025. Furthermore, the grid-connected energy storage market is projected to grow from annual revenues of $1.5 billion in 2016 to more than $7 billion in 2025 with a CAGR of 1...

Full article: http://solarindustrymag.com/global-energy-storage-market-...

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