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Market outlook for energy storage strengthens due to demand for utility-scale solar co-location, growth in China and new residential incentivesMay 07, 2019A total of 4.3 gigawatts (GW) of grid-connected energy storage will be deployed globally in 2019 – annual installations will grow to more than 10.6 GW by 2025. Annual grid-connected energy storage hardware revenues are projected to grow from $3.7 billion in 2018 to $8.4 billion in 2025 at a compound annual growth rate (CAGR) of 12 percent.
SolarEdge acquires UPS supplier Gamatronic, signaling race for PV inverter suppliers to diversify business modelsMay 17, 2018Leading solar inverter supplier SolarEdge announced on May 9, 2018, its intention to acquire Gamatronic, a manufacturer of uninterruptible power supply (UPS) systems. This move is a clear indication of SolarEdge’s plans to diversify its business outside of solar, and to expand into new large revenue industries with potential for disruption. This asset purchase agreement will enable SolarEdge to build a presence in the UPS market, which will reach nearly $8 billion globally in 2018.
United States to quadruple installed base of residential battery energy storage from 2018 to 2022May 10, 2018Less than 200 megawatts (MW) of residential battery energy storage was installed in the United States prior to 2018. The installed base of residential energy storage is forecast to quadruple by 2022, as more than 850 megawatts (MW) is deployed in the market.
Boost for energy storage market as mandatory requirements introduced in Puerto Rico, driving 1.5 GW of energy storage installations with renewable power plants in 2017December 18, 2013To meet the minimum technical requirements introduced by PREPA, renewable developers will have to deploy an energy storage system (ESS) with utility-scale renewable systems. IHS projects that the addition of...