|Outlook for the Global Energy Storage Industry, 2020|
|The United States and China Continue to be the Key Energy Storage Markets, Supported by Strong Regulations, Legislative Policies, and Incentives|
Energy storage is gaining importance with increasing demand for energy in residential and industrial applications, growing data consumption, and a proliferation of cloud services. For a viable solution to maximize the utilization of renewable energy, energy storage systems offer an attractive option for implementing clean energy sources. The global annual capacity for energy storage installations is expected to increase from 4.2 GW in 2019 to 6.9 GW by 2020, propelled by major nations in their drive to achieve their targets for power generation through clean energy sources.
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