A new report from Pike Research
says that the growth in energy storage adoption in the Asia Pacific region will lead to a $12 million market, driven chiefly by Japan, South Korea and Australia, and that the total installed capacity of in Asia will surpass the 25GW barrier by 2022. Technical developments in India and China will also have a marked impact, says Pike.
…part of a $30bn global market in 2022
And it gets better. Pike is also forecasting the worldwide market for energy storage will be worth $30 billion in 2022. This takes into account advances in next-generation pumped storage, compressed air energy storage and advanced battery technology for grid-scale storage.