The energy storage market in the U.S. is expected to grow 18.17 percent from 2012-2016, according to a new report.
The “Energy Storage Market in the US 2012-2016” conducted by Research and Markets finds that solar plants is a major factor contributing to energy storage growth. Another key factor, the report said, is an increase in research and development initiatives.
Energy storage technologies increases solar plant efficiency, allows back-up power to be more accessible, manages peak load, and saves power.
Abengoa Solar S.A., Areva Solar Inc., GE Energy LLC, and Pratt and Whitney Rocketdyne Inc. are key vendors leading the market.
To read the report, click here.
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