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Energy Storage Set for Record Year in 2016
Renewable Energy World: With almost 3 GW of energy storage capacity either in operation or planned, analysis firm IHS believes the energy storage market will rise significantly in the near future.
Battery cost reductions, government funding programs and utility tenders led to a 45 percent increase in the global energy storage pipeline in the fourth quarter of 2015 compared to the previous quarter. According to IHS, the global pipeline of planned battery and flywheel projects had reached 1.6 GW by the end of Q4 2015.
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