IHS Inc. (Englewood, Colorado, US) has released a new report which predicts that the market for energy storage to accompany solar photovoltaic (PV) generation will grow more than 100% annually to 7 GW in 2017, representing USD 19 billion in value.
Due to the energy storage subsidy, IHS expects Germany to play a leading role, as it did in the larger PV industry. The company predicts that 70% of installed storage in 2013 will be located in Germany.
IHS expects that if the program proves successful, other nations will pass similar subsidies. …
Market for storage with utility-scale PV as well
IHS also expects that storage will be used in larger PV systems, as connection requirements for PV become increasingly demanding. The company forecasts that utility-scale PV with storage will grow to more than 2 GW annually by 2017, led by Asia and the Americas.
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