US Energy Storage Market Could Triple This Year
The energy storage market is poised for substantial growth over the next five years, with installed capacity this year expected to more than triple to 220 MW from last year’s 62 MW.
A recent report from GTM Research and the Energy Storage Association, ‘U.S. Energy Storage Monitor,’ projected that the market will grow from $128 million last year to $1.5 billion by 2019, when more than 800 MW will be installed.
Moreover, non-utility storage – residential and non-residential – will grow from just 10% of installed capacity last year to 45% over the same period.
This is a bullish forecast for downstream residential vendors identified in the report, such as Schneider Electric, Outback Power, Sunverge, and Solar City.
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