VIDEO -- Energy Storage: Driving Progress

Industry Update from Reuters Solutions
Monday, June 12, 2017 10:19 am EDT

By:

Toshiba America, Inc.

The global market for rechargeable storage has already reached roughly $60 billion globally, with a 10% compound annual growth rate anticipated through at least 2020.The top revenue driver in battery storage, at least in the short term, is the utility sector and its need to cope with a rapidly evolving power ecosystem. By 2035, non-hydro renewable energy will account for 20% of the power installed in the US, up from only 7% in 2016, but because of their intermittency, wind and solar systems require energy storage back up.

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