Solar Report

Battery energy storage systems: Positive developments regarding battery costs and improved regulatory frameworks will drive a remarkable growth

2015-10-08 |

The number of battery energy storage systems (BESS) used for stationary applications, both utility-scale and distributed, has started to grow significantly, cleantech advisory company Apricum (Berlin) reports. According to recent estimates, today’s annual market volume of about USD 1 billion is expected to reach an impressive USD 20 – 25 billion by 2024. Apricum identified three major drivers of growth for stationary BESS: 1st, positive developments regarding battery costs and 2nd, improved regulatory frameworks that both increase the competitiveness of batteries to participate in 3rd, a growing market for addressable services. Read more...