Germany鈥檚 power storage market reaches 5 billion euros
Bloomberg
Germany鈥檚 power storage market, including both home- and utility-scale batteries, reached a new high of more than 5 billion euros last year, . The German energy storage federation BVES said that the market is growing by 10 percent - or 500 million euros - a year, driven by plunging technology prices, Bloomberg reports, but growth rates should be even higher to meet expanding demand.
Speaking at this year鈥檚 Energy Storage Europe conference in D眉sseldorf, BVES鈥檚聽Urban Windelen聽told reporters that Germany is at the forefront of new storage technology. "The German storage industry has a technological lead over its international competitors, especially in innovative storage systems that transcend sector boundaries, and is in an excellent position to meet future energy system requirements,"聽 But, Windeln said, the regulatory framework has yet to catch up to the industry and is slowing growth.
