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It may have taken years of hard work for the energy storage sector to get to the point where it is tipped as the next big thing, but it looks as if all that work could be about to pay off.

According to market research firm IHS, the energy storage market is set to “explode” to an annual installation size of 6 gigawatts (GW) in 2017 and over 40 GW by 2022 — from an initial base of only 0.34 GW installed in 2012 and 2013.

The solar plus storage market is estimated to be worth $8bn globally by 2026 and the battery storage market in the UK could deliver over 1.6GW of capacity by 2020. In the UK public support for renewable technologies has reached record highs according to government surveys, with opposition almost completely diminishing.

With falling costs, home storage is seen as increasingly attractive in the UK, particularly to early adopters and the 850,000 homes with solar panels. To put it in context, in 2015 41% of new solar panel systems in Germany were installed with energy storage.

Solar owners can make the electricity they generate more valuable by storing it in the battery and using it later instead of exporting it to the grid – Eaton and Nissan estimate such customers will be about £43 better off each month.

If you would like to find out more about battery storage for solar panels, please get in touch.

 

 

 

 

 

 

 

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