The energy storage market is poised for strong growth over the next decade and opportunities are likely to emerge for alternatives to lithium-ion that offer longer durations of storage, but three key challenges remain for those technologies.

The lion’s share of new funding announced this week to help scale-up potentially disruptive technologies by the Advanced Research Projects Agency – Energy (ARPA-E) of the US government Department of Energy (DOE) will go to battery and smart grid technologies.

Grid storage and distributed energy technologies overseen by the Advanced Research Projects Agency – Energy (ARPA-E) in the US will be accredited by technical advisory service DNV GL for the next four years.

The growth of technologies such as PV and storage will hit utility company revenues to the tune of US$130 billion a year within a decade, according to a study published yesterday by management consultancy Accenture.