The market for power conversion systems (PCS) used in energy storage is becoming “increasingly crowded” with competitors, while the diverse field of players will contribute to “rapid technological innovations and price reductions”, Navigant Research has said.
In less than 10 years, distributed solar-plus-storage systems will reach 27.4GW worldwide and be worth more than US$49.1 billion, with Asia and Western Europe leading the way, a new report from Navigant Research has forecast.
Community solar in the US could be a market worth as much as US$2.5 billion in revenues by 2020, but accommodating it will require a rethink of utility business models, a new report by Navigant Research claims.
