“German Energy Storage Market to Reach $1B by 2021”

Germany’s energy storage market will see significant growth between 2015 and 2021 to reach an annual value of 1.03 billion US dollars (about 0.93 billion euros), according to a new study by GTM Research. This is to be triggered in part by Germany’s residential energy storage market. “A number of variables, including declining feed-in tariffs, high electricity prices, and the KfW 275 program, are fuelling substantial interest in residential energy storage for self-consumption,” says Brett Simon, GTM Research energy storage analyst and author of the report. At the end of 2015, Germany had 67 megawatts of energy storage - with a value of 169 million US dollars -installed, writes Mike Munsell in an article for the research division’s parent company Greentech Media.

You can read the article in English here and buy the full report in English here.

Read more about energy storage in the CLEW dossier New technologies for the Energiewende.