While acknowledging that the economics “vary significantly” by region and application, Navigant Research has forecast that energy storage for integration of renewables and co-located with solar or wind could be worth more than US$20 billion by 2026.

Hybrid systems combining the complementary aspects of more than one technology could “change the energy storage landscape”, with 2.1GW predicted for deployment in less than 10 years, according to a report from Navigant Research.