Storage market: The grid-connected energy storage market will increase from 340 MW. in 2013 to more than 6 GW in 2017, according to IHS. The US is set to lead the sector. A new report by market research firm IHS predicts that the United States will be the largest region for grid-connected energy storage installations between 2012 and 2017, accounting for 43% of installations during that period. Commercial activity in the grid-connected storage market is currently limited to a small number of regions and IHS estimates that only 340 MW of systems were installed across 2012 and 2013, in fact predominantly demonstration projects. However, IHS forecasts that installations will rapidly grow to more than 6 GW in 2017. The availability of financial incentives to reduce the up-front cost of an energy storage system (ESS), the introduction of energy storage procurement and installation targets, and changes in electricity grid regulations that create business opportunities for an ESS in the grid will drive the acceleration, according to IHS. "The grid-connected energy storage market is set to explode, reaching a total of over 40 GW of installations by 2022," says IHS Solar Research Manager Sam Wilkinson.
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