Global Storage Market to Grow 13-fold by 2024

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Energy storage will become a key power grid asset

The global energy storage market will expand 13-fold by 2024, according to new research from Wood Mackenzie Power & Renewables. According to the report, ‘Global energy storage outlook 2019: 2018 year-in-review and outlook to 2024’, energy storage has been creeping into decarbonising markets over the past 5 years. Commenting on the report, Ravi Manghani, Wood Mackenzie Power & Renewables Research Director, said: “From 2013 to 2018, we saw fledgling market growth. This was reflected in a global GWh compound annual growth rate (CAGR) of 74%, although we did observe relatively small deployment totals of 7GW/12GWh for the period. “Nevertheless, these developments... ... More: Official Press Release Wood Mackenzie

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