According to a new report from GTM Research, The German Energy Storage Market: 2016-2021, Germany’s energy storage market will grow elevenfold in megawatt terms between 2015 and 2021 to reach an annual value of $1.03 billion.
Germany is already one of the world’s leading energy storage markets. At the end of 2015, Germany was home to 67 megawatts of energy storage (128 megawatt-hours) with a value of $169 million. Factors including the nation’s declining feed-in tariffs, high retail electricity rates and abundance of installed renewables make it an attractive market for the energy storage value proposition.
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