GRID CONNECTED BATTERY ENERGY STORAGE MARKET ANALYSIS
Global Grid Connected Battery Energy Storage Market- Trends
Increasing Number of Large-Scale Battery Storage Projects
Increasing number of large-scale battery storage projects is expected to drive the market growth. These initiatives support grid stability and support during peak period demand because they are frequently situated close to renewable energy sources. For Instance, on January 19, 2023, Solar Energy Corporation of India awarded JSW Energy, an energy company, two storage projects of 500 megawatts (MW), with a 1,000 megawatt-hour (MWh) output, which can provide power backup for two hours.
Global Grid Connected Battery Energy Storage Market- Trends:
Battery energy storage systems are being used for a variety of applications outside of grid support such as electric vehicle charging infrastructure, industrial and commercial energy management, and residential energy management. The market is expanding as a result of the expansion of applications, which is also presenting new business opportunities for battery and energy storage companies. For Instance, in 19th feb 2022, Government of India to expand Public Electric Vehicle Charging Infrastructure across the nation.
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