If events of the recent past are anything to by, energy storage could very well be the next growth sector in the U.S. and Europe. In both the regions, significant steps have been taken toward a future of smart grids. Only last month, California mandated 1.3 GW of battery storage for grid operators by the end of the decade. In Germany, €25 million was made available for introduction of storage technology into existing PV systems. This year’s Intersolar Europe exhibition also gave energy storage a separate section for the first time in any global energy trade shows.
IMS Research’s Ash Sharma predicts that the energy storage trade will total $19 billion by 2017, driven by the German intitiative. He added that the total storage capacity of solar installations will top 40GW in two decades.
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