28 Jan '15, 1pm

Storage to follow solar's path of falling costs, says Citigroup | PV-Tech #Solar #Energystorage

Battery storage. Citigroup predicts storage technologies will follow a similar path to renewables such as solar in driving down costs. Image: Australian Storage Council. Investment bank Citigroup is predicting a 240GW global battery storage market worth US$400 billion by 2030 as increased deployment creates a “virtuous circle” of falling costs. In a report , 'Dealing with Divergence' on global investment trends for 2015, Citi said it saw battery storage in conjunction with renewable energy systems and smart grids as the “third driver” of demand for rechargeable batteries after consumer electronics and electric vehicles. Citi said the rapid growth in renewable energy deployment and the pressures that had started to put on conventional forms of generation had brought storage to the “forefront of recent discussions” on the future of energy markets. The biggest factor standing...

Full article: http://www.pv-tech.org/news/storage_to_follow_solars_path...

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