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The Energy Storage Market Quadruples in Five Years

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A new report from KEMA looked at the growth in U.S. energy storage in the coming five years. It concluded the domestic market is likely to quadruple and to offer significant opportunities in electrochemical, mechanical and thermal methods of storing energy over a wide range of applications. The KEMA study, conducted on behalf of the Copper Development Association to define the impact U.S. growth in storage technologies will have on copper, used two scenarios, one in which there is no tax credit incentive to drive the energy storage sector and another in which the tax incentives proposed in last year’s U.S. Storage Act (S.1845) become available. Current investment trends, according to KEMA, indicate the biggest growth will come in distributed storage, ancillary services for the grid and applications that facilitate grid integration of renewables. Full Article

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