Solar Energy Market Overview Analysis:
In 2017, 1,315 energy storage projects were commissioned worldwide, 14 of which were under construction. In April 2017, the world’s installed energy storage was about 176 GW. Currently, the market is highly concentrated in countries such as the United States, Germany, Japan and Australia. Lithium ion batteries are expected to be the fastest growing energy storage systems due to their high power density and high performance. With current research and development, storage technologies are expected to be more efficient and economical, with a focus on the quality of energy supply and the development of intelligent network infrastructures.
The solar energy market has become the fastest growing industry in recent years. The growth of solar energy has been one of the main drivers of demand for energy storage. In 2016, global investment was USD 113,700 million. Germany is one of the leading countries in energy storage technology for renewable energies. In Germany, in 2017, 80,000 commercial and domestic companies invested in the photovoltaic battery system. In addition, the country is expected to install 50,000 photovoltaic battery systems annually by 2020.
Solar Energy Market – Growth Drivers:
It is expected that the global demand for solar PV will increase in response to the decline in system costs and the decarbonisation of the system. Accordingly, the energy storage market is expected to be driven by the growing solar energy market.
Solar Energy Market – Demand Analysis:
In 2017, the energy storage market grew by 50% compared to 2016. The market is driven by local subsidies and strong demand for solar energy. Germany is the largest energy storage market (ESS) in the world and Europe. The ESS is an essential part of the energy transition in Germany. It is one of the major players in the energy storage market. It is expected that the Nordic countries will have strong demand for an energy storage system. The demand for ESS in Asia-Pacific is driven by China.
Request for Free Sample Report @ https://www.researchcosmos.com/request/global-solar-energy-market-analysis-size-share-and-growth-opportunities-to-2021/5790073
Solar Energy Market – Regional Growth, Share Insights:
The United States is one of the largest areas in the energy storage market. It is estimated that in 2016, the use of MW in energy storage has increased by 28%. In the third quarter of 2017, the country provided more than 40 MW of energy storage nationwide, representing 46% growth over the previous year. Energy storage projects in the USA increased by 105% from 2013 to 2016. In August 2017, California led the energy storage market with 198 operations (4.3 GW), followed by Virginia and Texas. Many municipal utilities that have not considered the energy storage system in resource planning in the past also model hundreds of megawatts of storage in their resource pool. The country is expected to provide 1 GW annually from 2019, with improved sourcing and economic programs in the foreground. Therefore, the United States is expected to show a high growth rate over the forecast period.
Key Player mentioned in Solar Energy Market Research Report:
- JLM Energy
- Peak NRG
- Sunverge Energy, Inc.
- Bosch, Tesla, Inc.
- ABB, Sonnen GmbH
- Tabuchi Electric
- SolarCity Corp
- SunPower Corporation
- Saft Groupe S.A
- Panasonic Corporation
- 10+ More
Research Cosmos is a provider of standard and customized Industry research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending Industry reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
Company Name: Research Cosmos
Contact Person: Kevin Stewart
Email: Send Email
Address:4390 U.S 1, Suite 211
State: New Jersey
Country: United States