Referring to our previous post, No. 827, lithium-ion battery price dropped down by 85%during the past decade. This drives more attention towards extending and developing storage solutions. In one of the recent analyses, the National Energy Storage Association and Wood Mackenzie Power & Renewables, have predicted that energy storage will increase more than 14 times over the next five years across the United States. In other words, the United States’ energy storage capacity will reach 7300 MW in 2024 compared to 523 MW in 2019.
According to Energy-Storage news, Over the next two years alone, the first really big utility procurements of energy storage are set to come online, causing an expected trebling of the market volume this year and then more than doubling again in 2021.
At the residential market, the recent public power shutdowns in California have threatened households and surged them to a backup power supply such as lithium-ion batteries.
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