Big batteries for every home and business: Energy storage to double this year
The global energy storage market is expected to double as homes and businesses adopt battery energy storage to supplement rooftop solar and other renewable energy systems, according to a new report by IHS.
According to IHS, over the next decade, lithium-ion (Li-ion) batteries will become the mainstream energy-storage technology, with more than 80% of global energy storage installations including it by 2025.
This year alone, the global energy storage market is expected to double, from 1.4 gigawatt hours (GWh or billion watt hours) added in 2015 to 2.9GWh.
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