European Market for Energy Storage Expected to Grow
A recent report released by Frost & Sullivan finds that the utility-scale battery market in Europe earned revenues of $126.4 million (USD) in 2010 and expects it to increase to $564.9 million in 2015. As European countries face the need to increase the percentage of power generated from renewable energy sources, lithium-ion battery energy storage systems will become increasingly important. While Frost & Sullivan believes lead acid batteries are currently the only affordable chemistry (although energy density and performance don’t deliver), Ener1 believes its lithium-ion solutions can be even more beneficial to utilities as evidenced by some of its recent announcements.
A recent report released by Frost & Sullivan finds that the utility-scale battery market in Europe earned revenues of $126.4 million (USD) in 2010 and expects it to increase to $564.9 million in 2015. As European countries face the need to increase the percentage of power generated from renewable energy sources, lithium-ion battery energy storage systems will become increasingly important. While Frost & Sullivan believes lead acid batteries are currently the only affordable chemistry (although energy density and performance don’t deliver), Ener1 believes its lithium-ion solutions can be even more beneficial to utilities as evidenced by some of its recent announcements.
