The utility-scale energy storage market will exceed US$2.5 billion in revenue by the year 2023, according to forecasting by Navigant Research, the research arm of consultancy Navigant.
A large-scale storage system made by reusing electric vehicle batteries has been developed and deployed at a 10MW solar farm in south western Japan by Sumitomo Corporation.
The US market for commercial energy storage will grow by the equivalent of 34% annually between 2014 and 2020, resulting in the deployment of over 720MW of distributed energy storage, according to a new report by GTM Research.
Grid-scale electrical energy storage (EES) company Primus Power announced that a Series C funding round has secured US$20 million worth of investment, including a “major contribution” from Anglo American Platinum.
