Revenues from solar energy storage are to grow to US$2 billion by 2018, new research predicts.
A report from analysts NanoMarkets says that the decline in feed-in tariffs in many parts of the world means PV users will have an additional incentive to storage the solar energy the produce.
Lead-acid batteries will continue to dominate the market between now and 2018, accounting for some US$950 million in revenues.
But the report also forecasts growing interest in lithium batteries, with sales of this technology expected to reach US$235 million by 2018.
The report predicts Chinese solar storage firms are likely to have a strong focus on lithium batteries because China is a key source of lithium.
But without government R&D subsidies, it says lithium will remain too expensive for widespread application.