Market outlook for energy storage strengthens due to demand for utility-scale solar co-location, growth in China and new residential incentives
Julian Jansen
|
May 07, 2019
A 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.
