Solar energy storage market ‘to surpass annual installation rate of 3GW by 2025’
The solar energy storage market will surpass an annual installation rate of 3GW by 2025.
That’s according to new research published by market research firm Global Market Insights, which notes in 2018, the combined battery and solar energy sector was worth more than $170 million (£140.6m).
It notes the growth of co-located solar and battery infrastructure will largely be driven by rising environmental concerns in conjunction with “strict regulatory mandates to curtail global emissions”.
It suggests “harnessing the synergy” among intermittent renewable power and demand side electrification is the key factor influencing future adoption rates of such technologies.
