Global Capacity Of Distributed Energy Storage Systems Will Grow 10-Fold In Next 3 Years
Navigant Research has released a report that finds that the worldwide capacity of distributed energy storage systems will grow by 10 times from 276 MW in 2015 to nearly 2,400 MW in 2018, a span of only 3 years.
Distributed storage is one of the fastest-growing markets for energy storage globally and especially so for residential and commercial storage. By 2024, it is estimated that total global capacity will surpass 12,000 MW.
Growth is mainly fuelled by the development of more advanced battery chemistries, such as Li-ion, as well as increasing penetration of solar PV, electric vehicles, electric vehicle charging, and home energy networks.
In response to the demand, grid operators, utilities, and governments are supporting storage installations that are physically situated closer to the retail electricity customer.
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