The US and Australia led the world in the deployment of energy storage facilities in 2017, according to new research. In a report released on Tuesday, researchers from Stanford University said that by 2022, global demand for electricity will grow at an annual rate of about 20 percent, with most of this growth coming from renewable sources. Meanwhile Germany and Australia were leading in the residential storage sector, whilst China could potentially outperform all other countries within five years, building on its position as the largest renewable energy market in the world.
The US and Australia led the world in the deployment of energy storage facilities in 2017, according to new research. The report from GTM Research found that the two countries had the highest number of new developments, due to a number of large projects coming online and market incentives that rewarded investment in storage. Meanwhile Germany and Australia were leading in the residential storage sector, whilst China could potentially outperform all other countries within five years, building on its position as the largest renewable energy market in the world.