The cost of solar panels has plummeted more than 70 percent since 2010 and the number of new installations is more than doubling every year for exponential growth in the solar industry. So, what’s the next step?
Research and analysis firm IHS Technology released a report last week comparing the current energy storage market to the solar photovoltaic environment in 2010.
Just as solar took off at a rapid pace from that point, experts predict energy storage is set to catapult in coming years.
Just as the amount of installed solar generation grew 10-fold between 2010 and today, the experts at IHS predict a 10-fold increase in the amount of energy storage from 90 megawatts now to 900 megawatts by 2018.
And just as solar growth gained its momentum in Europe, IHS estimates Germany, Australia, Italy and the United Kingdom will lead the storage market as well.