PV storage 'set for boom'

A grid-linked storage system in Chile

A grid-linked storage system in Chile

The global market for PV storage units is set to explode over the next four years, going from less than $200m in 2012 to $19bn by 2017, according to market researcher IHS.

The boom will be fuelled initially by Germany, which is set to begin offering subsidies for PV storage from next month.

But Asia and the Americas will not be far behind in adopting the technology, IHS predicts. 

Storage – seen as the holy grail by many in the PV sector – remains expensive, due to the still uncompetitive cost of rechargeable batteries. But investors are pouring money into the sector, and costs are dropping quickly.

Germany accounted for 70% of the market last year, and will soon become the first country Log in to read complete article.

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