30 Jul '16, 1pm

Global grid-connected energy storage capacity to double in 2016, IHS Markit says

The global energy storage market is expected to double, from 1.4 GWh added in 2015 to 2.9 GWh this year. Global grid-connected energy storage capacity will surge to 21 GWh by 2025, according to IHS Markit. According to the company, over the next decade, Lithium-ion (Li-ion) batteries will become the mainstream energy-storage technology , and more than 80 percent of global energy storage installations will include the technology by 2025. “Energy storage is set to grow as fast as solar photovoltaic energy has in recent years, sparking strong interest from a wide range of players and underscored by recent mergers and acquisitions among car manufacturers, major oil and gas companies, and conventional power suppliers,” said Marianne Boust, principal analyst, IHS Markit. “The United States and Japan are leading the way, but we’re also seeing activity in South Africa, Kenya, the ...

Full article: http://www.renewableenergyfocus.com/view/44564/global-gri...

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