
This week we saw energy storage in the headlines as the market continues its meteoric growth. From news of another record-breaking quarter for storage, to utility partnerships, to updated battery technology, this week’s news round up is the opposite of Storage Wars.
Readers of Advanced Energy Perspectives know the market for energy storage is growing, and fast. As noted in last year’s Market Report, energy storage is transitioning from a large infrastructure market of pumped hydro and underground compressed air projects – which it still is, in much of the world – to a technology-driven market, with rising scale and falling prices. And it is taking off: global revenue from Energy Storage multiplied five-fold, from $462 million in 2014 to $2.1 billion in 2015, and in the U.S. more than ten-fold, from $58 million to $734 million. (See graph below.)