Global energy storage market to double six times between 2016

Rodiano Bonacci
Novembre 22, 2017

More than half of electric and hybrid cars sold in China.

Yayoi Sekine, BNEF energy storage analyst and lead author of the report, comments, "The industry has just begun".

Many manufacturers, including the Volkswagen Group, have stated they will bring electric versions of each model to market within the next few years.

Sales for electrified vehicles exceeded 287,000 units in the third quarter of 2017, marking a 63% boost over the same period last year and a 23% increase over this year's Q2 numbers.

Several governments have also announced targets for cleaner transport, some driven by the emissions-cheating scandal that engulfed Volkswagen AG.

Currently, France and the United Kingdom are set to ban sales of new petrol and diesel cars by 2040.

It is not excluded that the example of China in Russian Federation can also be administered state subsidy program, which will allow residents of the country is beneficial to buy electric cars and hybrids.

Meanwhile, on the pathway to the the projected deployment figures, the strong growth of battery storage market is being reaffirmed by ongoing large-scale projects, such as the 129 MW battery now being built by Tesla and Neon in Australia, as well as projects in sight, such as the recent announcement by British electrical power generation company Drax to build a 200 MW battery storage project at Drax Power Station in North Yorkshire - one of the largest Carbon dioxide emitters in Europe.

"The national subsidies can make EVs up to 40 percent cheaper than regular internal combustion cars", O'Donovan said.

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