Global Off-grid Energy Storage Market 2015-2019
  • Published : November , 2015
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  • Number of Pages : 70
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  • Published By : Technavio



Report Overview
Market outlook of the global off-grid energy storage market
Energy storage systems are used to store excess electricity that can be utilized during power shortages, blackouts, and peak hours of demand. The global market for off-grid energy storage is driven by the need to maintain off-grid issues like grid stability, grid flexibility, and frequency regulation. These factors promote growth in this market during the forecast period and results in its steady CAGR of nearly 7.5% by 2019.

Technavio’s market research analyst has estimated eminent factors, such as its ability to mitigate intermittent nature of renewables, to drive market growth during the period of 2014 and 2019. Energy storage helps in the smoothing and supply shift of renewable energy sources like wind and solar PV. It also helps to optimize the variable renewable energy feed-in to the grid, which is expected to drive the market for battery based energy storage during the forecast...




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