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.
The coming of energy storage to electricity markets is “inevitable”, according to Eric Carlson, senior director of grid systems integration storage at US solar energy provider SolarCity.
