Navigant: Energy storage for renewables integration to reach $23B by 2026
Posted by Charles Decuir on
January 3, 2018 10:00 AM
- As the cost of global renewable energy projects declines, Navigant Research anticipates the worldwide revenue from energy storage for renewables integration (ESRI) will exceed $23 billion by 2026, with utility-scale and behind-the-meter applications expected to show the strongest growth.
- Solar energy has reached grid parity in several locations around the globe, the firm concluded, and no longer requires policy incentives to incentivize deployment in many markets. Even though energy storage costs are also declining, they remain a challenge.
- But while utility-scale renewable prices are experiencing bigger price declines, peak shaving and incentive programs specific to energy storage are helping drive the behind-the-meter segment.