Energy storage systems for microgrids to reach nearly US$4.2 billion in market value by 2024, says Navigant Research

Delivering services both to microgrids and, in the case of grid-tied systems, to the centralized grid, energy storage is becoming an essential enabling technology for all types of microgrids. Energy storage can reduce the payback period of the microgrid, by enabling an increase in the penetration of renewable energy sources or by reducing diesel fuel consumption. According to a recent report from Navigant Research, the worldwide market value for energy storage for microgrids will grow from US$662 million annually in 2014 to nearly US$4.2 billion in 2024.



from DIGITIMES: IT news from Asia http://ift.tt/1oYVG28

via Yuichun