Nearly 300GW of renewables were estimated to have gone online globally in 2021. Renewable energy installations worldwide are increasing rapidly and as this happens, there is greater need for a wide range of energy storage applications like ancillary services, capacity firming, and energy arbitrage. Jackson Cutsor, senior analyst at IHS Markit (now part of S&P Global), expects new opportunities for energy storage to go hand in hand with renewable energy, and for the industry’s rapid rate of expansion to continue.
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