1. Utility-Scale Battery Storage to Reach 12 GW, $8.44 Billion by 2024

    Utility-Scale Battery Storage to Reach 12 GW, $8.44 Billion by 2024

    Utility-scale grid connected battery storage is set to reach up to 12 GW by 2024, while annual revenues will grow to around US$8.44 billion. The U.S. will be a leader, followed by China, Japan and Germany. Despite an overall positive outlook, there are significant market challenges to overcome. These are the findings of a new report by Frost & Sullivan.

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    1. Battery storage has the ability to impart flexibility to the grid across a variety of end-use applications.
    2. Overall, attractive pricing, combined with a surge in manufacturing and supportive policies for renewable energy development, will increase the bankability of renewable energy associated storage projects.
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    1. Electricity Source:

      Solar Photovoltaic, Wave, Tidal, Hydro, Wind
    2. Storage Market:

      Commercial & Industrial, Microgrid & Community, Military, Residential, Smart Grid, Utility Grid, Vehicle-to-Grid/Home
    3. Storage Technology:

      Compressed Air/Gas, Flow Battery, Flywheel, Hydrogen, Lead, Liquid Metal, Lithium, Magnesium, Mechanical Storage, Nickel, Pumped Hydro, Sodium, Supercapacitors, Thermal, Vanadium, Zinc
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