The global energy storage device market is expected to be worth nearly US$30bn in revenue by 2020

Judging solely from the number of published reports, interest in energy storage has exploded in the last few years.

The new interest appears to stem from the rapid development of variable renewable energy resources, and the perceived need for storage to accommodate the variable nature of these new resources.

The need for balancing services, rapid generation ramping, and moving energy from times of excess to times of high demand are expected to increase with high levels of wind and solar energy penetration—exactly the types of services that energy storage can provide.

Although some energy storage technologies are mature and ready to serve, many other storage technologies span the range of development maturity with rapid improvements in many technologies underway.

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